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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  Telefonica S.A.    TEF   ES0178430E18

TELEFONICA S.A.

(TEF)
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Telefonica Unit Agrees to Sell Divisions to American Tower for EUR7.7 Billion

01/13/2021 | 02:00am EST

By Olivia Bugault

Telefonica SA said Wednesday that its subsidiary Telxius Telecom SA has signed an agreement with American Tower Corp. for the sale of its European and Latin American telecommunication-tower divisions for 7.7 billion euros ($9.40 billion) in cash.

Under the agreement, Telxius Telecom will sell roughly 30,722 tower sites through two independent transactions, The Spanish telecommunications company said. One transaction will focus on its tower division located in Spain and Germany, and the other will be for its business in Brazil, Peru, Chile and Argentina, the company said.

Telefonica expects a capital gain of roughly EUR3.5 billion and should reduce its net financial debt by about EUR4.6 billion after the sale to the U.S. real-estate investment trust company is completed, it said.

"The Telefonica Group operators will maintain the current leases agreements of the towers signed with the companies sold subsidiaries of Telxius Telecom SA so that these operators will continue to provide their services in similar terms to the current ones," the company said.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

01-13-21 0159ET

Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN TOWER CORPORATION (REIT) 0.77% 223.92 Delayed Quote.-0.24%
EURO / ARGENTINE PESO (EUR/ARS) -0.03% 105.1456 Delayed Quote.2.39%
EURO / BRAZILIAN REAL (EUR/BRL) 2.24% 6.6542 Delayed Quote.2.58%
TELEFONICA S.A. -1.03% 3.637 Delayed Quote.12.08%
US DOLLAR / ARGENTINE PESO (USD/ARS) -0.04% 86.387 Delayed Quote.2.78%
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Financials
Sales 2020 43 354 M 52 757 M 52 757 M
Net income 2020 1 821 M 2 216 M 2 216 M
Net Debt 2020 41 836 M 50 911 M 50 911 M
P/E ratio 2020 11,1x
Yield 2020 10,5%
Capitalization 20 001 M 24 347 M 24 339 M
EV / Sales 2020 1,43x
EV / Sales 2021 1,42x
Nbr of Employees 113 392
Free-Float 89,8%
Chart TELEFONICA S.A.
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Technical analysis trends TELEFONICA S.A.
Short TermMid-TermLong Term
TrendsBullishBullishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 5,02 €
Last Close Price 3,64 €
Spread / Highest target 147%
Spread / Average Target 38,0%
Spread / Lowest Target -28,5%
EPS Revisions
Managers and Directors
NameTitle
José María Álvarez-Pallete López Executive Chairman & Chief Executive Officer
Ángel Vilá Vilá Boix Chief Operating Officer & Director
Laura Abasolo García de Baquedano Chief Financial & Control Officer
Alejandro Ramos Chief Information Security Officer
Isidro Fainé Casas Vice Chairman
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