FRANKFURT (Dow Jones) – Telefonica Deutschland is collecting billions in revenue from the sale of mobile phone locations in Germany. As the company announced, it sells around 10,100 locations – consisting of around 10,000 roof locations and up to 80 tower locations – for 1.5 billion euros. The customer is Telxius Telecom, which is indirectly owned 50.01 percent by the Spanish parent company Telefonica SA.
Telefonica Deutschland thus uses the currently attractive ratings for structural network infrastructure, thereby maximizing shareholder value and strengthening its financial flexibility, according to the company. The agreed purchase price implies an EV / EBITDA multiplier of around 23x.
At the same time, Telefonica Deutschland will rent space on the transferred passive infrastructure for the installation and operation of its active radio technology. The consideration to be paid is within the scope of comparable transactions in Europe.
The competent authorities, in particular that Bundeskartellamt, still have to agree to the transaction.
Telefonica Germany confirmed the outlook for the year as a whole.
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DJG / mgo / kla
(END) Dow Jones Newswires
June 08, 2020 13:29 ET (17:29 GMT)
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