May 6, 2020 / 7:17 AM / 20 days ago

Telefonica Deutschland looking at further tower sales - CEO

BERLIN, May 6 (Reuters) - Telefonica Deutschland is looking into the sale of some of its German towers assets, CEO Markus Haas said on Wednesday, saying valuations were attractive enough to justify offloading network infrastructure.

“We see extremely high demand,” Haas told reporters on a conference call, adding that he expected a deal to be done by the middle of the year.

Telefonica plans to sell up to 10,000 German towers to Telxius, the infrastructure company it owns together with KKR and billionaire Amancio Ortega’s investment fund Pontegadea, a Spanish newspaper reported last month.

Infrastructure players are snapping up masts in deals that can be funded with debt because the assets generate predictable revenue streams. Such sales can help network operators to raise cash to invest in 5G network upgrades. (Reporting by Douglas Busvine; editing by Thomas Seythal)

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