Why the Telxius IPO was cancelled

TowerXchange seeks to derive lessons learned from the cancelled IPO of Telefónica’s towerco

Read this article to learn:

  • Why demand from investors proved inadequate
  • What assets were included, and excluded, from Telxius
  • What Telefónica might do next
  • Transferrable lessons learned

**UPDATE** Telefonica has agreed to sell a 40% stake in Telxius to KKR, beating bidders including GIC Private, CVC Capital Partners, and Ardian, who were all believed to be interested in the asset. The deal is valued at €1.3bn and includes a call option for 62mn Telxius shares for €790.5n. Investors were underwhelmed by the package of…

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