TEF Telefonica SA

   By Antonia Di Lorenzo 
 

Telefonica Deutschland AG (O2D.XE) said Tuesday it is considering selling infrastructure assets in a move to increase its financial flexibility.

As part of the potential sale, which involves passive mobile communications infrastructure assets, the company said it could sell rooftop sites to the Telefonica SA (TEF.MC) subsidiary Telxius. In 2016, the company had sold around 2,350 free-standing mobile towers to Telxius.

It is currently considering a potential sale of a large part of its 19,000 owned mobile rooftop sites in the course of next year, Telefonica Deutschland said.

A sale could include structural and infrastructural components as well as rental contracts for the locations, it said.

"We are currently seeing strong demand in the capital market for passive mobile communications infrastructure and expect a decision to be taken over the next few months, with execution in 2020," it said.

The company also reiterated its full-year guidance and the mid-term targets.

Through a subsidiary, Telefonica SA is the majority shareholder of Telefonica Deutschland.

Write to Antonia Di Lorenzo at antonia.dilorenzo@wsj.com; @AntoniaDL89

(END) Dow Jones Newswires

September 10, 2019 12:29 ET (16:29 GMT)

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