Telefonica Suspends IPO of Telxius Infrastructure Unit
September 29 2016 - 01:03PM
Dow Jones News
By Jeannette Neumann
MADRID--Telefónica SA (TEF) said it is suspending the initial
public offering of its Telxius infrastructure unit because
potential investors' offers undervalued the business.
The scuttled deal throws a wrench in the Spanish
telecommunication giant's efforts to quickly raise funds to whittle
down its debt as it seeks to ease concerns among investors and
credit rating firms.
Telefónica said it will continue to explore other alternatives
for the Telxius unit, according to a regulatory filing published
Thursday.
Write to Jeannette Neumann at jeannette.neumann@wsj.com
(END) Dow Jones Newswires
September 29, 2016 12:48 ET (16:48 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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