Telefônica Brasil sells towers to Towerco for 760 mln reais
SAO PAULO, April 1 (Reuters) - Telefônica Brasil SA, the owner of the country's No. 1 wireless carrier, has sold 1,655 cellphone towers to Towerco Latam Brasil Ltda for 760 million reais ($214 million).
In a securities filing published on Friday, Telefônica Brasil said the buyer is a unit of parent company Telefónica SA. The decision to sell the towers was to "optimize the company's allocation of capital," the filing added.
($1 = 3.5531 Brazilian reais) (Reporting by Guillermo Parra-Bernal; Editing by Richard Chang)
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