Telefonica’s Telxius Valued Up to 3.75 Billion Euros in IPOBy , , and
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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