MADRID, Nov 4 (Reuters) – Spanish telecom agency Telefonica (TEF.MC) considers the 50% stake in cellphone mast operator Cornerstone it owns with Liberty International (LBTYA.O) a “disposable asset” and sees excessive curiosity out there for it, Chief Working Officer Angel Vila instructed Reuters on Friday.
No determination to promote has been made but, although, and he declined to estimate the worth of the stake, he stated in a phone interview.
“We, the companions, can promote it completely or partly, we’re open to that risk,” Vila stated.
Lengthy-term revenue streams tied to inflation have turned towers into prized funding targets and a horny supply of money for telecom companies in Europe and elsewhere at a second they want billions to put money into rolling out 5G networks.
Cornerstone is collectively joined by Virgin Media O2, which is owned by Telefonica and Liberty, and Vodafone (VOD.L) by way of its Frankfurt-listed subsidiary Vantage Towers <VTWRn.DE>.
The British telecoms group is on the similar time in talks with monetary buyers to promote a stake in its wi-fi towers, in response to sources. learn extra
Cornerstone is the biggest tower firm within the UK, managing round 14,200 macro websites on behalf of its two anchor tenants, in response to Vantage´s web site.
Vila stated that Vantage doesn’t have preemption rights for Virgin Media’s stake in Cornerstone.
Reporting by Inti Landauro and Andres Gonzalez
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