January 14, 2021 |
Spanish telecommunications company Telefónica said Wednesday that it reached an agreement to sell its Telxius tower division to American Tower for €7.7 billion ($9.36 billion).
Boston-based American Tower will pay cash for the assets, which include nearly 31,000 communications sites in Argentina, Brazil, Chile and Peru as well as Germany and Spain, Telefónica said in a press release.
Telefónica will use some of the proceeds to pay off €4.6 billion in debt, part of a strategy to become more agile
Spanish telco earns $9.4 bln in a deal for Telxius with US-based American Tower