(CercleFinance.com) – Telefonica and the Spanish holding company Pontegadea announced on Tuesday that they were going to increase their stakes in the infrastructure company Telxius Telecom.
The two partners said last night that they intended to acquire the 40% stake held by the American giant KKR in the capital of this company, which operates submarine cables in particular.
With this operation, Telefonica will increase its stake in Telxius to 70% while Pontegadea – the holding company of Zara founder Amancio Ortega – will increase its shares to 30%.
The total price of the transaction is estimated at around 215 million euros.
In a press release, Telefonica explains that the operation will enable it to strengthen its position in submarine cables, an area which it believes has high growth potential and important industrial status in today’s digital world.
Telxius operates an international network of 94,000 km of high-capacity fiber optic submarine cables, making it one of the leading systems in the world.
Copyright © 2022 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
