Telefonica: EQT could buy its submarine cables

(CercleFinance.com) - The investment fund EQT has reportedly offered 1.
8 billion euros to buy the Spanish operator's submarine cables, according to El Confidencial.

The Scandinavian fund is said to have made an offer with Cerberus for this infrastructure which is owned by the Spanish operator KKR and Pontegadea, the investment arm of Amancio Ortega, El Confidencial says.

EQT would like to make a new investment in Spain. The investment fund has already made six acquisitions, including five in the last 18 months.

The Telefonica group has called on KPMG to advise it on its plans to split up several divisions, according to the Spanish website Expansion. This is one of the main areas of the ambitious strategic plan announced by management.

Morgan Stanley and Uria Menendez are also said to be advising the group on these asset separation operations.


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