The deal “aims to optimise the allocation of the company’s capital, generating value for shareholders,” a Telefônica Brasil statement read in the filing.
“The transaction secures the continuity of the provision of personal mobile service (PMS), in the sense that it also includes the lease of space in these infrastructures through a long-term contract, and establishes conditions for the expansion of the rented space.”
Towerco Latam is a company indirectly controlled by Telefónica through its global infrastructure unit Telxius. Telefónica made a similar move in Peru, transferring 900 towers to Telxius.
