Telefonica’s Telxius Valued Up to 3.75 Billion Euros in IPO

Updated on
  • Shares of infrastructure unit offered at 12-15 euros each
  • Investors sought lower valuation for submarine assets

Telefonica SA offered to sell up to 40 percent of its Telxius unit in an initial public offering that values the infrastructure business at as much as 3.75 billion euros ($4.19 billion), a range that suggests the Spanish telephone company may reap less than it wanted as it tries to pay down debt.

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