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Telefonica and Liberty Global eyeing sale of UK towerco CTIL

27 Oct 2022

Bloomberg reports that telcos Telefonica and Liberty Global are considering the sale of their 50% stake in UK mobile infrastructure operator Cornerstone Telecommunications Infrastructure (CTIL). With the pair looking to raise capital for fibre broadband investments, Bloomberg cites unidentified sources as claiming that the deal could be worth in the region of EUR10 billion (USD10.02 billion).

CTIL owns more than 20,000 sites across the UK and is a joint venture (JV) between Vodafone Group’s Vantage Towers unit and Virgin Media O2, which is itself a JV of Telefonica and Liberty Global. Bloomberg claims that Telefonica is looking to extricate itself from CTIL ‘as part of its on-going strategic review of its services and infrastructure’. Unnamed sources suggest the process could begin in 2023.