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Telefonica abandons EUR 1.5 bln Telxius IPO on weak demand

2016-09-30 08:25:00| Telecompaper Headlines

(Telecompaper) Telefonica has cancelled its planned initial public offering of infrastructure unit Telxius, citing inadequate investor demand. The company "has decided to abandon the offering because it regards the valuation of Telxius implicit in the purchase orders as inadequate," said Telefonica in a statement submitted to stock market regulator CNMV, adding that it would "continue analysing strategic alternatives in connection with the asset." A source close to the operator cited by the Financial Times said the valuation process had been affected by the "market situation" as well as by "lesser knowledge" among investors of Telxius's underwater cable businesses, adding that the company had decided not to sell assets "at a loss" because it had "sufficient options to keep its investment grade rating." Bloomberg added that investors had balked at paying the asking price of EUR 12 to EUR 15 a share, according to unnamed sources.

Tags: eur demand weak ipo

Telefonica abandons Telxius IPO

2016-09-30 02:00:00| Total Telecom industry news

Spanish incumbent received 'inadequate' valuation of its infrastructure unit.

Tags: ipo telefonica abandons

Telefonica, Vivendi sign LatAm mobile content deal

2016-09-29 08:27:00| Telecompaper Headlines

(Telecompaper) Telefonica has announced a deal to offer its Latin American customers WatchMusic and Studio+, two of Vivendi's new mobile entertainment services. WatchMusic is a premium music video service optimised for mobile devices and also available across multiple platforms. It offers unlimited access to a large catalogue of music videos, concerts and festivals, as well as providing live streaming, original content, video playlists and special features such audio-only listening and offline modes. Studio+ is a mobile short series offer and app with exclusive content specifically shot for mobile viewing.

Tags: sign content mobile deal