Telefonica to sell Germany’s cell towers to Telxius for 1.5 bln euros – paper

MADRID: Spanish telecom giant Telefonica has started negotiations to sell its cellphone towers in Germany for 1.5 billion euros ($1.6 billion), newspaper Expansion reported on Friday.

Telefonica plans to sell as many as 10,000 German towers to Telxius, the telecom infrastructure company it owns in partnership with private equity fund KKR and textile billionaire Amancio Ortega’s investment fund Pontegadea, the newspaper said.

Telefonica owns 50.01% in Telxius, Expansion said.