Liberty Global, Telefonica Venture to Sell Stake for About GBP360 Million
October 31 2023 - 2:38PM
Dow Jones News
By Mauro Orru
A joint venture between Liberty Global and Spain's Telefonica
reached an agreement to sell a minority stake in its mobile tower
joint venture to U.K.-based infrastructure fund GLIL Infrastructure
LLP.
The Spanish telecommunication company said Tuesday that the
agreement is for the VMED O2 UK Limited joint venture to sell a
16.67% stake in Cornerstone Telecommunications Infrastructure
Limited, the mobile tower joint venture.
VMED O2 UK Limited, or VMO2, will receive approximately 360
million pounds ($438.1 million) payable in cash at closing of the
transaction, which is expected in the coming weeks.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
October 31, 2023 14:23 ET (18:23 GMT)
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