The operation, which should be concluded soon, will be a sale&leaseback operation, since the company intends to keep occupying part of the 34.000 sqm building, according to Spanish newspaper Expansión. Telefónica intends, in this way, to comply with the lease agreement it made in 2011 with the building’s construction company - the Consorci de la Zona Franca de Barcelona (CZF) -, which includes the building’s occupation by the Spanish provider until 2060.
In 2014, Telefónica purchased the building from CZF for more than 129 million euro. Now, five years later, the telecom provider sees in its sale an opportunity to obtain capital to pay part of its debt, according to the same newspaper.
Last Update 13/5/2019
