Deals
Telefonica Said to Weigh Delay of Unit IPOs on Volatility
- Telxius infrastructure IPO was set to be announced next week
- Company was giving ‘serious consideration’ to O2 IPO in U.K.
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Telefonica SA is considering delaying the planned initial public offering of its Telxius infrastructure unit and the possible IPO of its U.K. wireless unit O2 because of market volatility after Britain’s vote to leave the European Union, according to people with knowledge of the situation.
The Madrid-based telephone company was planning to announce the Telxius IPO next week, said two of the people, who asked not to be named because the plans aren’t public. The stock sale was targeted to raise as much as 1.5 billion euros ($1.66 billion), giving the business an equity value of as much as 3.5 billion euros, they said.