Telefonica to raise up to EUR 1.5 billion in Telxius IPO

(Telecompaper) Telefonica has launched the initial public offering for its infrastructure company Telxius and looks to raise up to EUR 1.5 billion. The Spanish operator is offering 90.9 million shares of 36.36 percent of the capital of Telxuis to qualified investors in a bookbuilding process running 20-29 September. The indicative price range for the shares is EUR 12-15 per share, meaning gross proceeds of EUR 1.09-1.36 billion. If demand is strong, Telefonica will sell additional shares to list