Telefonica Said to Add Banks for Debt-Cutting IPO of Telxius
- CaixaBank, BBVA added as global coordinators for share sale
- IPO could raise $5.6 billion as company looks to reduce debt
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Telefonica SA added several banks for the initial public offering of its infrastructure division Telxius, which could raise 4 billion to 5 billion euros ($4.5 billion-$5.6 billion) as the parent moves ahead with debt-reduction plans following the blocked sale of its U.K. wireless unit, according to people with knowledge of the matter.
CaixaBank SA and Banco Bilbao Vizcaya Argentaria SA have been added as global coordinators, along with Goldman Sachs Group Inc. and JPMorgan Chase & Co., the people said, asking not to be identified because the deliberations are private. Telxius includes Telefonica’s wireless towers and network assets like submarine cables and planned data centers.