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Telefonica Deutschland Holding AG
M&A Activity • Apr 22, 2016
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Corporate | 22 April 2016 08:00
Telefónica Deutschland Holding AG: Telefónica Deutschland sells passive tower infrastructure to Telxius
DGAP-News: Telefónica Deutschland Holding AG / Key word(s): Disposal
2016-04-22 / 08:00
The issuer is solely responsible for the content of this announcement.
April 22, 2016
Telefónica Deutschland sells passive tower infrastructure to Telxius
Yesterday Telefónica Deutschland sold its passive tower infrastructure to Telefónica S.A.’s infrastructure company Telxius. The two parties agreed on the sale of approx. 2,350 towers for a cash purchase price of EUR 587 million.
The sale was approved by the Supervisory Board and the Management Board of Telefónica Deutschland. The contract signing took place on 21 April 2016.
With this transaction Telefónica Deutschland takes advantage of current favourable market conditions for infrastructure assets, thereby maximising shareholder value.
The cash proceeds from the transaction enhance the company’s financial flexibility and will be reinvested in the business to support infrastructure development and the development of new growth areas.
Following the sale, Telefónica Deutschland will continue to use the wireless towers through operating lease agreements. There will be no impact on Telefónica Deutschland’s targeted synergies from the merger with E-Plus.
The tower sale will be treated as a special effect and excluded from the company’s outlook for 2016.
The sale concerns wireless masts located mainly in rural areas, which account for less than ten percent of Telefónica Deutschland’s targeted passive infrastructure portfolio. There are no current plans for the disposal of the remaining passive infrastructure, which consists mainly of rooftop sites.
More Information:
Telefónica Deutschland
Investor Relations
Georg-Brauchle-Ring 23-25
D-80992 München
t +49 (0)89 2442-1010
f +49 (0)89 2442-2000
2016-04-22 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | Telefónica Deutschland Holding AG |
| Georg-Brauchle-Ring 23-25 | |
| 80992 München | |
| Germany | |
| Phone: | +49 (0)89 24 42 0 |
| Internet: | www.telefonica.de |
| ISIN: | DE000A1J5RX9 |
| WKN: | A1J5RX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart; Terminbörse EUREX |
| TecDAX |
| End of News | DGAP News Service |