Spanish incumbent Telefonica has agreed to sell 500 towers in Spain to the infrastructure company Abertis for €45m (US$60m).
The agreement could be extended to include 1,000 towers by the end of the year.
The infrastructure group said that Telefonica…
Spanish incumbent Telefonica has agreed to sell 500 towers in Spain to the infrastructure company Abertis for €45m (US$60m).
The agreement could be extended to include 1,000 towers by the end of the year.
The infrastructure group said that Telefonica will be the main customer on the towers, which are based in rural areas throughout Spain, during the next few years.
But Abertis added that it does plan to offer the infrastructure to other operators that can share services.
Abertis currently has 3,300 telecoms towers in Spain.
It argued that this deal will make it a “key actor” in the rationalisation of mobile telecoms infrastructure in Spain and will “enable the development of new business opportunities for sharing infrastructures.”
Abertis is an infrastructure group covering roads and airports, as well as telecommunications.
An Abertis spokesman said that there is no specific financing for the acquisition and that it will be funded through the company’s available cash.
He added that Abertis has the will to continue growing in this area in Spain and the rest of Europe.
Telefonica reported net financial debt of €56.3bn (US$73bn) for 2011, but has been acting to reduce its debt through a cut to its planned dividend and sales of non-core assets.
