MergerLinks - EQT to acquire Telefonica's submarine cable business for $2.2bn.

Announced

1 Jun 2021

EQT to acquire Telefonica's submarine cable business for $2.2bn.

Financials

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Transaction Value£1,549m

Consideration TypeCash

Capital Owned-

Capital Bid For100%

EV/Sales-

EV/EBITDA-

Share Price Premium-

One Off Charge-

target

Telefonica (submarine Cable Business)

bidder

Eqt Partners

vendor

Telefonica

Sources

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Tags

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Majority

Telecommunications infrastructure

cable operator

Spain

Pending

Private

Single Bidder

Cross Border

cable networks

Acquisition

Private Equity

Friendly

Synopsis

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EQT Partners offered to acquire the submarine cable business from Telefonica, a Spanish multinational telecommunications company, for $2.2bn. The sale of the submarine cable business is part of a wider Telefonica plan to reduce its debt by selling assets.

EQT to acquire Telefonica's submarine cable business for $2.2bn.

target

bidder

vendor

Christian Sinding

José María Álvarez-Pallete López