The future of Telefonica’s 50 per cent stake in UK mobile infrastructure business Cornerstone Telecommunications Infrastructure (CTIL) was once again thrown into doubt, with Spanish media reporting the asset was up for sale for €2 billion.
Citing sources close to the company, El Confidencial claimed the operator had tasked Goldman Sachs to find a buyer for its half of CTIL. The remainder of the business [1] is owned by Vodafone Group tower spin-off Vantage Towers.
Any deal would be the latest in a number of divestments made by Telefonica as it seeks to refocus the business [2]. Other sales include tower assets owned by subsidiary Telxius in both Europe and Latin America [3] earlier this year.
Rumours of the imminent sale of its share of CTIL have surfaced before, with Spanish business media reporting in 2019 [4] the asset was on the block alongside towers across a number of other markets.
CTIL was a joint venture formed 2012 to host various infrastructure assets used by Vodafone UK and Telefonica’s O2 UK.
In addition to affiliates of its two parent companies it supplies services to a range of third parties.
[1] https://www.mobileworldlive.com/featured-content/top-three/vodafone-adds-uk-assets-to-tower-spin-off
[2] https://www.mobileworldlive.com/featured-content/home-banner/telefonica-creates-strategy-unit-as-revamp-continues
[3] https://www.mobileworldlive.com/featured-content/top-three/telefonica-closes-latam-telxius-tower-sale
[4] https://www.mobileworldlive.com/featured-content/top-three/telefonica-moves-ahead-with-tower-plan
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