Spanish telecoms giant Telefónica is pushing to revive efforts to sell its Telxius subsea cable business.
El Confidencial reports that Telefónica and Pontegadea, the other main shareholder in Telxius, have tasked JP Morgan and Guggenheim with finding a buyer for the unit.
– Foto: Agencia EFE
It's not the first time that Telefónica has looked to sell the unit, with the carrier previously failing to find a buyer five years ago.
Sources told the Spanish newspaper that Telefónica and Pontegadea could value Telxius at around €1.2 billion ($1.37bn).
