Telefónica and Pontegadea to acquire the remaining 40% stake in Telxius Telecom from KKR & Co for €216m.

Telefónica, a Spanish multinational telecommunications company, and Pontegadea, a provider of investment management services, agreed to acquire the remaining 40% stake in Telxius Telecom, a telecom infrastructure service provider, from KKR & Co for €216m ($234m). Telefónica will increase its stake to 70% and Pontegadea will increase its stake to 30%. Through its Tier 1 IP network, Telxius Telecom provides direct connectivity to the internet with a coverage of 93 points of presence and 27 landing stations in 23 countries. In addition, Telxius Telecom offers an extensive range of capacity services, colocation and security services.