Telefonica: sells 11 data centers to cut debt

(CercleFinance.com) - Telefonica is selling 11 data centers to Spanish investment management firm Asterion Industrial Partners for 550 million euros, as the telecommunications giant tries to reduce its debt.


The scope of the deal includes seven countries, mostly in Latin America, with two centers based in Argentina, two in Brazil, one in Chile, two in Spain, one in Mexico, two in Peru and one in the US.

The transaction is expected to generate pre-tax capital gains and before controlling interests of around 260 million euros, Telefonica said.

The telecoms operator said the deal is part of its strategy to reduce debt and strengthen its balance sheet by increasing cash flow.

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