Amancio Ortega scores capital gains of 331 million with the Telxius towers

Amancio Ortega, founder of Inditex, is another of the winners of the sale of Telxius towers, a company whose main shareholder is Telefónica, a American Tower (ATC), since it will suppose capital gains of around 331 million euros compared to your initial investment in the company. Ortega entered Telxius through Pontegadea after, in July 2018, Telefónica sold him 10% of the company for 378.8 million euros.

Now, the telecommunications company has closed the sale of the vast majority of its towers to ATC for a total of 7,100 million euros, with what the Galician businessman will receive approximately 710 million euros for the operation. Sources close to the operation have clarified to Europa Press that Ortega you have not yet received any amount for the operations, as the legal formula for the distribution of this amount among Telxius shareholders (in which it is also present the KKR fund with approximately 40% of the capital).

EP

Recently, Ortega received 646.8 million euros in dividend from Inditex, the firm he founded and of which he is the largest shareholder, and of which you will receive another equivalent amount next November 2. Also, the employer will probably still receive higher capital gains from its stake in Telxius, from which he has also received returns in the form of dividends, the amount of which has not been published, in the last three years.

Specifically, in August the last part of the sale of Telxius towers is expected to materialize, with 4,400 sites in Germany, by which it is estimated that society will receive the remaining 600 million euros of the 7.7 billion euros in which the total operation is encrypted. In addition, Telxius has on the market your submarine cable business in what could be another operation where Ortega increase the profitability of your investment in the telecommunications infrastructure company.


Source: LA INFORMACIÓN – Lo último by www.lainformacion.com.

*The article has been translated based on the content of LA INFORMACIÓN – Lo último by www.lainformacion.com. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!