New Rumors of Telefonica UK Tower Asset Sale
Spanish media recently reported that Telefonica will sell its 50 percent stake in UK mobile infrastructure business Cornerstone Telecommunications Infrastructure (CTIL). According to media, the asset is up for sale for €2 billion.
El Confidencial claims, citing sources close to the company, that the operator had tasked Goldman Sachs to find a buyer for its half of CTIL. The remainder of the business is owned by Vodafone's tower spin-off Vantage Towers.
If the new prove to be true, it would be the latest divestment made by Telefonica as it seeks to refocus the business. Other sales include tower assets owned by subsidiary Telxius in both Europe and Latin America earlier this year.
Rumours of the imminent sale of its share of CTIL have surfaced before, with Spanish business media reporting in 2019 the asset was on the block alongside towers across a number of other markets. CTIL was a joint venture formed 2012 to host various infrastructure assets used by Vodafone UK and Telefonica’s O2 UK.