VIV – Telefônica Brasil S.A.

Vivo selling 1,909 towers to Telxius

Telefônica Brasil (NYSE:VIV) says in a filing that it has agreed to sell 1,909 towers to Telxius Torres Brasil (an indirect subsidiary of Spanish parent Telefónica (NYSE:TEF)).

That deal, intended to optimize capital allocation, comes for 641M reais in consideration (about $153M).It ensures continuity in providing mobile service by including leasebacks, and establishes conditions for expanding rented space. The transaction still needs approval from CADE, Brazil’s antitrust regulator.

Telefonica Brasil S.A. is a mobile telecommunications company in Brazil offering postpaid mobile services. The Company also operates as a fixed telecommunications company in the state of Sao Paulo. The Company markets its mobile services under its Vivo brand. It offers its clients a portfolio of products, including mobile and fixed voice, mobile data, fixed broadband, ultra-fast broadband, Pay television, information technology and digital services.

Its operations consist of local and long distance fixed telephone services; mobile services, including value-added services; data services, including broadband services and mobile data services; Pay television services through direct to home (DTH), Internet protocol television (IPTV) and cable; network services, such as rental of facilities, as well as other services; wholesale services, including interconnection; digital services; services designed specifically for corporate customers, and the sale of wireless devices and accessories.

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