TEF Telefonica SA

   By Nathan Allen 
 

Telefonica SA (TEF.MC) has agreed to sell a portfolio of 11 data centers across Spain, Latin America and the U.S. to Asterion Industrial Partners SGEIC for 550 million euros ($615.6 million), it said Wednesday.

The Spanish telecom company said the sale should generate around EUR260 million pretax capital gains. The deal should close in around two months for all but four of the centers, the company said.

Telefonica said the sale forms part of its broader strategy to boost profitability by reshuffling its portfolio and sharpening its focus on value creation.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

May 08, 2019 01:54 ET (05:54 GMT)

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