Telefonica Said to Plan to Narrow Telxius Range to Low End

  • Investors have expressed demand at closer to 12 euros a share
  • IPO’s new price range expected to come as early as Tuesday

Telefonica SA is expected to narrow the price range in the initial public offering of infrastructure unit Telxius Telecom SA toward the low end of its estimate, based on demand from institutional investors, according to people familiar with the matter.

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