Telefónica clears another 500 million debt after selling towers in Latin America

phoneica It notified the CNMV of an event related to the sale of telecommunications towers in Latin America through its subsidiary Telxius.

specific, Telxius, owned by KKR, Telefónica and Pontegadea, has sold its tower division for nearly €1 billion in Brazil, Peru, Chile and Argentina.

All in all, Telefónica will reduce debts in another 500 million euros. It must be remembered that the telecommunications company took off another 9000 million this week after the establishment of joint project With Virgin in the UK and sale of towers in Europe to American Towers.

This operation is part of the Telefónica Group’s strategy, which includes, among other objectives, an active portfolio management policy for its businesses and assets, based on value creation and at the same time accelerating the reduction of organic debt.