UPDATE América Móvil plans to complete its spin off of the towers owned by Telekom Austria before the end of the third quarter but does not plan to fully monetize its towers for several years, the operator said in its Q2 2023 earnings call this week. The tower company, which will be known as EuroTeleSites, has raised the needed financing and will be funded from day one.
“We, América Móvil, will continue to control and consolidate the company. And we have, in fact, a commitment to maintain our stake at least for a period of five years in the tower company,” said Oscar Von Von Hauske Solis, Chief Fixed-line Operations Officer.
In February, América Móvil and Österreichische Beteiligungs AG, an Austrian sovereign wealth fund, agreed to spin-off the mobile towers in most of the countries in which Telekom Austria operates, including Austria.
“The tower spin-off from the telecom business will enable a more efficient capital allocation and greater capacity at Telekom Austria to expand its overall investment plans,” América Móvil said.
In June, a $596 million, five-year bullet loan was issued for the new EuroTeleSites. The loan was provided by a group of six international banks. A few weeks later, on July 6, the new tower company launched a 5.25 percent, $596 million, five-year bond.
By J. Sharpe Smith, Inside Towers Technology Editor
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