By Cristina Roca

Telefonica SA (TEF.MC) said late Monday that it has agreed to sell 2,029 mobile telecommunications towers belonging to its Telefonica Ecuador and Telefonica Colombia businesses to Phoenix Tower International for a total of about 290 million euros ($321.4 million).

The divestment is part of the Spanish company's plan to speed up the monetization of its mobile telecoms towers portfolio announced earlier this year.

Write to Cristina Roca at cristina.roca@dowjones.com

(END) Dow Jones Newswires

December 24, 2019 01:59 ET (06:59 GMT)

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