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Telefónica pulls plug on Telxius IPO

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Telefónica pulls plug on Telxius IPO

TelefónicaSA aborted the upcoming IPO of its infrastructure unit Telxius dueto weak investor demand, Reuters reported Sept. 29.

The Spanish telco,which is also planning an IPO for its British mobile operator unit O2,reportedly said it will study alternative options for Telxius.

According to earlier reports, institutional investors wantedto purchase Telxiusstock at the low end of the range of €12 to €15 per share.

Telefónica sought to float up to 40% of Telxius' share capital.