KKR-backed Telefónica unit lines up €7.7B asset sale
January 14, 2021
Telxius, a subsidiary of the Spanish telecom group Telefónica that is partly owned by KKR, has agreed to sell over 30,000 mobile phone masts in Spain, Germany and South America to American Towers for €7.7 billion. US-based American Towers will lease the masts back to Telefónica. The asset disposal is part of a broader strategy by Telefónica to shed less-profitable parts of its business.