August 14, 2014 / 9:05 AM / in 3 years

Orange looking to sell mobile antennas in Spain-source

MADRID, Aug 14 (Reuters) - French telecoms group Orange is looking to sell around 9,400 mobile antennas in Spain to cut costs and boost profitability as the sector consolidates, a source familiar with the situation said on Thursday.

“Several infrastructure management firms are being sounded out to see how much interest there is in the market, although it still has to be decided if the deal will go ahead or not,” the source said, referring to a report in newspaper Expansion.

The newspaper said the antennas could be worth around 885 million euros, based on the price paid by infrastructure operator Abertis for similar Telefonica assets in 2013.

The antennas are usually sold and then leased back to their former owners as well as other operators. (Reporting By Robert Hetz; Writing by Elisabeth O‘Leary, editing by William Hardy)

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