Deals
Telefonica, Liberty Weigh Sale of Stake in £10 Billion UK Towers Arm
- Telecom groups together own 50% of Cornerstone venture
- Cornerstone may be valued at about £10 billion in any deal
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Telefonica SA and Liberty Global Plc are weighing a sale of their stake in a UK towers venture to help raise funds for fiber broadband investments, people familiar with the matter said.
The telecommunications companies are working to gauge interest in their 50% holding in mast operator Cornerstone, the people said, asking not to be identified discussing confidential information. Cornerstone may be valued at about £10 billion ($11.5 billion) in any deal, the people said.