TEF Telefonica SA

--Virgin Media O2--a U.K. telecommunications company jointly owned by Liberty Global PLC and Telefonica SA--has started a process to sell part or all of its 50% stake in tower business Cornerstone, the Financial Times reports, citing unnamed sources.

--Cornerstone--in which Vantage Towers AG owns the remaining half--could be valued at up to 3 billion pounds ($3.29 billion), according to the FT.

--VMO2 aims to sell at least a stake of 25% in Cornerstone, but would consider offers for its whole stake, the FT reports.

Full story: https://on.ft.com/41orpiJ

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

April 20, 2023 07:52 ET (11:52 GMT)

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