Telefonica Cancels Telxius IPO Due to Inadequate Market Demand

Telefonica SA canceled an initial public offering of its infrastructure unit, Telxius Telecom SA, after encountering inadequate investor demand.

Telefonica will continue “to analyze strategic alternatives” for Telxius, the Spanish carrier said in a statement Thursday.

Telefonica and its advisers had been scrambling to rescue the IPO, including weighing lowering the price range or reducing the size of the deal amid insufficient demand for the stock, people familiar have said.

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