Telefónica accelerates the monetisation of its infrastructure with the sale of 2,029 towers in Ecuador and Colombia

Telefónica today announced the sale of 2,029 towers in Ecuador and Colombia for approximately 290 million euros to Phoenix Tower International (PTI), a company backed by funds such as the Blackstone Group and John Hancock. Telefónica Ecuador has sold 1,408 towers for 202 million euros. Telefónica Colombia has sold 621 towers for 87 million euros, complementing other tower disposals executed earlier in the year.

This announcement is part of the company’s strategy to crystallise the value of its infrastructure, reinforced by the recent creation of Telefónica Infra. Telefónica is delivering on the plan announced in September to accelerate the monetisation of its extensive portfolio of mobile sites as part of its strategy focused on enhancing value for shareholders and improving return on capital. The plan allows Telefónica to maintain maximum operational flexibility while continuing to analyse different monetisation options.

During 2019, Telefónica has sold more than 6,000 mobile telecommunications sites (of which approximately 3,000 to Telxius), at an implicit average multiple of 18x OIBDA.

Following these transactions, Telefónica owns, directly and through its subsidiaries, some 66,000 sites. Of these, approximately 20,000 are owned by Telxius and the remaining 46,000 are owned by other Group subsidiaries. More than 60% of these are located in Telefónica’s four core markets (Spain, Brazil, the UK, and Germany).

About Telefónica

Telefónica is one of the largest telecommunications companies in the world by market capitalisation and number of customers with a comprehensive offering and quality of connectivity that is delivered over world class fixed, mobile and broadband networks. As a growing company it prides itself on providing a differential experience based both on its corporate values and a public position that defends customer interests.

The company has a significant presence in 14 countries and 345 million accesses around the world. Telefónica has a strong presence in Spain, Europe and Latin America.

Telefónica is a 100% listed company and its shares are traded on the Spanish Stock Market and on those in New York and Lima.