Resultados 1 a 4 de 4
  1. #1
    WHT-BR Top Member
    Data de Ingresso
    Dec 2010
    Posts
    15,033

    [EN] Telefonica adia IPO da Telxius (infraestrtura) por falta de interessados

    Rob Powell
    September 30th, 2016

    Rumors that demand for Telxius shares was light turned out to be more than a little true. Yesterday Telefonica threw in the towel and postponed the IPO of its infrastructure unit due to inadequate demand.

    Telefonica had hoped to raise some cash by selling up to 40% of the unit, planning to use the proceeds to help reduce the company's debt load. While the IPO itself is off the table, that general plan may yet come to fruition. Telefonica is continuing to 'analyze strategic alternatives', suggesting that if public money doesn't want it then perhaps strategic or financial buyers might.

    Telefonica's debt reduction efforts have faced hurdle after hurdle. Their sale of O2 was blocked by regulators, and plans to IPO that division ran into the fall of the British Pound in the wake of Brexit. Now investors aren't lining up to buy Telxius shares either.

    Telxius has a mix of submarine cable and tower assets in its portfolio, a combination that isn't going to appeal to as many potential buyers as more focused groups of assets. It seems to me, therefore, that the company could look to sell subsets of the assets, even individual submarine cable systems.

    Of course, we haven't seen too many of those actually change hands in recent years except as part of larger deals like Telstra's buyout of Pacnet and Level 3's purchase of Global Crossing. You can go back a bit further to find a few I guess. One more standalone deal I can think of was TPG Telecom's purchase of PIPE Networks some years back. And then there is NTT's purchase of PC-1 as well.

    http://www.telecomramblings.com/2016...f-telxius-ipo/

  2. #2
    WHT-BR Top Member
    Data de Ingresso
    Dec 2010
    Posts
    15,033

    Telefónica forced to delay €1.2bn IPO of Telxius

    Listing was part of Spanish telecoms group’s plan to cut its €53bn debt



    by: Gavin Jackson in London and Tobias Buck in Madrid
    September 29, 2016

    Telefónica, the heavily-indebted Spanish telecoms group, was forced to delay a planned €1.2bn flotation of its infrastructure unit on Thursday after failing to attract sufficient demand for the share sale.

    The listing of Telxius was part of a plan for Telefónica to reduce its debt burden, but investors demanded a steep discount because of the spin-off’s undersea cable business.

    Telefónica said in a filing to the Spanish stock market regulator that it had decided to “abandon the offering” because the valuation of Telxius that was “implicit in the purchase orders” was “inadequate”.

    The Madrid-based group added that it would continue analysing “strategic alternatives” with regard to its infrastructure business.

    A person close to the group said the valuation process had been affected by the “market situation” as well as by “lesser knowledge” among investors of Telxius’s underwater cable businesses. The person added that the group had “sufficient options to keep its investment grade rating” and would not be selling assets “at a loss”.

    Telefónica was seeking to sell 40 per cent of Telxius, which combines telecoms towers and undersea fibre optic cables.

    The news comes as Telefónica accelerates its plan to reduce its €53bn debt load. Telxius is the first of two potential initial public offerings planned by the Madrid-based telco, with the possible sale of its UK mobile business O2 to follow.

    A postponed deal of this size is a bearish signal for the IPO market and the bankers, lawyers and accountants who work on these deals.

    This year global listing volumes have fallen by 33 per cent compared to the same period in 2015, according to data from Dealogic. Market turbulence in the first half of the year, as well as investor uncertainty about the market impact of the UK’s vote to leave the EU, have dissuaded some companies from floating.

    Bankers had hoped that there would be a window of stability between the end of the summer and the US presidential elections in November.

    Telefónica had originally planned to sell O2 to CK Hutchison, but the European Commission blocked that deal on the grounds that it would have led to higher prices and less choice in the UK. It now needs to find the €10.5bn it would have got from the deal elsewhere.

    https://www.ft.com/content/f033e7de-...7-2359a58ac7a5

  3. #3
    WHT-BR Top Member
    Data de Ingresso
    Dec 2010
    Posts
    15,033
    [EN] Telefonica Spins Off Its Network Assets
    11-Fev-2016

    [EN] Telefónica to link Brazil and the USA with a new submarine cable (BRUSA)
    09-Mar-2016

    "BRUSA will become part of Telxius, the global company recently created by Telefónica to best optimise its infrastructure asset portfolio and that will gradually integrate certain of these assets including part of its tower and submarine fiber optic cable networks."

  4. #4
    WHT-BR Top Member
    Data de Ingresso
    Dec 2010
    Posts
    15,033

    Telefónica anula la salida a Bolsa de Telxius por la baja demanda

    La compañía comunica al regulador bursátil que anula la oferta pública de venta de su filial de antenas con la que esperaba captar hasta 1.500 millones

    30 SEP 2016

    Telefónica ha comunicado que anula la salida a Bolsa de su filial de antenas Telxius ante la baja demanda recibida para los precios que ellos esperaban. El grupo de telecomunicaciones había previsto sacar al mercado hasta 100 millones de acciones (el 40% de la empresa como máximo) a un precio de entre 12 y 15 euros con una colocación entre inversores institucionales, según explicó en el folleto de la operación pública de venta (opv) hace solo nueve días. El objetivo era que esa operación sirviera para aliviar las elevadas deudas que acumula el grupo, de 52.600 millones de euros a finales del primer semestre.

    Este jueves estaba previsto que se fijara el precio definitivo de la salida a Bolsa, preparada para el 3 de octubre. Pero Telxius no llegará al parqué la semana que viene. "En relación con la Oferta de venta de acciones de su filial de infraestructuras de telecomunicaciones Telxius Telecom, Telefónica, de común acuerdo con las entidades coordinadoras globales, ha decidido desistir de la mencionada oferta, por no considerar adecuada la valoración de la compañía Telxius implícita en las órdenes de compra recibidas", ha reconocido a la Comisión Nacional del Mercado de Valores (CNMV).

    La compañía que preside José María Álvarez-Pallete, una vez anulada esta operación con la que esperaba captar hasta 1.500 millones de euros, explica que "seguirá analizando alternativas estratégicas en relación a dicho activo", ha explicado.

    En concreto, la idea era sacar a Bolsa hasta 100 millones de acciones de Telxius —la filial que se dedica a gestionar las torres de telecomunicaciones y cables submarinos de fibra óptica— a un precio de entre 12 y 15 euros. Esta operación iba a permitir a la multinacional española captar entre 1.090 y 1.500 millones que destinaría a reducir su deuda. Pero las órdenes de compra que estaban llegando (al parecer, numerosas) se situaban en la parte inferior de la horquilla (o incluso por debajo) y no cubrían la demanda al precio que se marcó como objetivo la empresa. El mercado exigía un precio más bajo. Telefónica podía reducir el rango de precios o el número de acciones a la venta, pero finalmente ha optado por desistir.

    La compañía tanteaba el estreno en el parqué de esta filial desde hace meses y esperaba llevarla a cabo a finales de julio. En junio, sin embargo, ante el apoyo al Brexit en el referéndum de permanencia de Reino Unido en la UE, la empresa decidió retrasar la operación, porque los mercados sufrieron fuertes turbulencias. Finalmente, y con las Bolsas más tranquilas, este mes había reiniciado la opv, que ahora aparca.

    Telxius posee más de 65.000 kilómetros de cable submarino de fibra óptica, de los que alrededor de 31.000 kilómetros son en propiedad. Gestiona el Pacific Caribbean Cable System (PCCS), Unisur, y el SAM-1. Además, Telxius va a integrar Brusa, un nuevo cable submarino de casi 11.000 kilómetros de longitud que conectará Río de Janeiro y Fortaleza en Brasil con San Juan de Puerto Rico y Virginia Beach (EE UU), y Marea, el nuevo cable submarino de 6.600 kilómetros que unirá Estados Unidos con Europa a través de España. También posee en torno a 16.000 torres de telecomunicaciones para móviles en España, Alemania, Brasil, Chile y Perú. Durante el ejercicio de 2015, los ingresos consolidados de Telxius ascendieron a 691 millones de euros mientras que su resultado operativo antes de amortizaciones (OIBDA , por sus siglas en inglés) ascendió a 323 millones.

    http://economia.elpais.com/economia/...89_311450.html

Permissões de Postagem

  • Você não pode iniciar novos tópicos
  • Você não pode enviar respostas
  • Você não pode enviar anexos
  • Você não pode editar suas mensagens
  •