Telxius, the infrastructure company of Telefónica has reached an agreement with Telefónica Deutschland to acquire approximately 10,100 sites.
The agreement includes the commitment to build 2,400 additional sites (BTS), ensuring exceptional future growth in Europe's largest market.
The transaction, subject to regulatory approvals, amounts to a total of 1.5 billion euros.
The agreement will see Telxius double the size of its tower portfolio to over 32,800 and cements its position as one of the leading neutral global infrastructure operators. Approximately 80% of its sites are in Europe, while the rest of the portfolio is in Latin America.
This transaction will reduce Telefónica Group's net debt by approximately 500 million euros between 2020 and 2021, due to the contribution made by Telefónica’s partners in Telxius, net of the corresponding tax impacts.
The deal will also allow Telefónica Deutschland to further enhance its financial flexibility while the company secures access to important locations via long-term lease agreements agreed by the parties.
In the last few months, Telxius has completed acquisitions of towers in Brazil and Peru. The creation of Telefonica Infra was one of the five strategic decisions taken under the New Telefonica plan unveiled on November 27, 2019.
