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Telefónica mulls narrowing Telxius IPO's price range

TelefónicaSA is considering narrowing the price range for the publicflotation of itsinfrastructure unit Telxius Telecom SA to meet demand from investors.

Institutional investors want to buy Telxius stock at the lowend of the range of €12 to €15 per share, Bloomberg News reported Sept. 27,citing people familiar with the matter. The new price range is expected to bereleased shortly.

The Spanish telcois willing to sell upto 40% of Telxius' share capital.