\tTelefonica pushed forward with its goal to raise funds from its tower assets, as it reportedly hired investment bank Goldman Sachs to explore a sale through its O2 UK unit.<\/p>\n
Spanish newspaper Expansion reported Goldman Sachs will assist the operator with its aims to monetise its 50,000 telecoms towers, which fall outside of those operated by dedicated tower subsidiary Telxius.<\/p>\n
Telefonica\u2019s board first outlined [1] its future plans for towers last month, forecasting the 50,000 towers had the potential to generate \u20ac830 million in revenue depending on lease agreements signed.<\/p>\n
Contracted through its UK subsidiary O2, Expansion said Goldman Sachs will advise the Spanish group on the sale of its stake in CTIL, a joint venture it runs with Vodafone which controls Telefonica\u2019s UK tower assets, as well as sites in Spain, Germany and Brazil.<\/p>\n
The newspaper added Goldman Sachs’ mandate goes beyond towers to also encompass a review of the operator\u2019s entire wireless infrastructure assets.<\/p>\n
Telefonica operates a total of 130,000 mobile towers, including 18,000 which are run by subsidiary Telxius.<\/p>\n
The 50,000 towers could yet be bundled into Telxius, depending on what strategy it pursues. It expects to begin generating a return on the assets within 12 months.<\/p>\n[1] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/telefonica-unveils-sweeping-staff-changes-tower-plan\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Telefonica pushed forward with its goal to raise funds from its tower assets, as it …<\/p>\n
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