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TEF Telefonica SA

4.54
0.03 (0.67%)
Pre Market
Last Updated: 13:04:39
Delayed by 15 minutes
Name Symbol Market Type
Telefonica SA NYSE:TEF NYSE Depository Receipt
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  0.03 0.67% 4.54 500 13:04:39

Virgin Media O2 Puts Tower-Business Stake Up for Sale, FT Reports

20/04/2023 1:07pm

Dow Jones News


Telefonica (NYSE:TEF)
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From Jul 2022 to Jul 2024

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--Virgin Media O2--a U.K. telecommunications company jointly owned by Liberty Global PLC and Telefonica SA--has started a process to sell part or all of its 50% stake in tower business Cornerstone, the Financial Times reports, citing unnamed sources.

--Cornerstone--in which Vantage Towers AG owns the remaining half--could be valued at up to 3 billion pounds ($3.29 billion), according to the FT.

--VMO2 aims to sell at least a stake of 25% in Cornerstone, but would consider offers for its whole stake, the FT reports.

 

Full story: https://on.ft.com/41orpiJ

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

April 20, 2023 07:52 ET (11:52 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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