Madrid (AP) - The sale of radio masts is intended to advance the Spanish telecom group Telefonica in debt reduction.
The Telefonica division Telxius will earn 7.7 billion euros through the sale of almost 31,000 radio masts in Spain, Germany and South America to the American Tower Corporation (ATC), Telefonica announced on Wednesday in Madrid.
Last summer, the German Telefonica subsidiary said goodbye to its radio towers and sold them to Telxius.
In addition, a few years ago, the mobile communications provider had already given Telxius 2,350 free-standing mobile telephone masts, thus generating almost 590 million euros.
By selling transmitter masts, telecommunications companies can collect money, for example, for investments in the new, high-speed 5G mobile network.
In view of the low interest rates, radio towers and mobile phone locations are considered an attractive investment for professional investors such as insurers and financial investors who are interested in a stable return on rental prices.
Telefonica competitor Vodafone is planning an initial public offering of its radio tower division Vantage Towers.
In addition, a listing of the more than 68,000 masts from nine countries on the Frankfurt stock exchange is aimed for, it said.
Deutsche Telekom incorporated its radio towers into its own company many years ago, but is still the sole owner.
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