Telefónica and Pontegadea revive efforts to sell Telxius subsea cable business
Type: Sale · Technology: Telecom · Country: Spain · Value: EUR 1.2B · Announced: 2026-07-20
Telefónica and its 30% shareholder Pontegadea have engaged JP Morgan and Guggenheim to find a buyer for Telxius, the subsea cable unit valued at around €1.2 billion. Telxius operates a network of more than 100,000 km of subsea cables and several landing stations and data centers, including sites in Virginia Beach and Bilbao. The sale follows a previous failed attempt in 2020 and aims to streamline Telefónica's portfolio amid broader Latin American divestments. The advisory mandate signals a renewed push to monetize the asset before the end of 2026. The transaction is being coordinated from Spain, where both owners are headquartered.
Counterparties
- JP Morgan (Advisor Sell)
- Pontegadea (Seller)
- Telefónica (Seller)
- Guggenheim (Advisor Sell)
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