Telefonica Signs Agreement to Use AT&T's Infrastructure in Mexico

Date : 11/22/2019 @ 6:53AM
Source : Dow Jones News
Stock : Telefonica SA (TEF)
Quote : 7.48  0.07 (0.94%) @ 1:00AM
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Last $ 7.48 ◊ 0.00 (0.00%)

Telefonica Signs Agreement to Use AT&T's Infrastructure in Mexico

Telefonica (NYSE:TEF)
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   By Giulia Petroni 
 

Telefonica SA (TEF.MC) said Thursday that its subsidiary Pegaso PCS SA de CV signed an agreement with AT&T Comunicaciones Digitales, S de RL de CV to be provided with "last mile" wireless access services.

The Spanish telecommunications company said Telefonica Mexico will access AT&T Mexico's wireless "last mile" equipment--the final leg of telecom networks that delivers service to consumers through towers, antennas and fiber-optic cables--but will remain an independent operator.

The agreement is set to be in place for eight years, Telefonica said. After a three-year period, Telefonica Mexico is expected to generate approximately 230 million euros ($254.67 million) in cash flow and achieve a reduction in net debt of EUR500 million.

The financial terms of the deal were not disclosed.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

November 22, 2019 01:38 ET (06:38 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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