- Telefonica (TEF +0.2%) is close to postponing the initial public offering of Telxius, its infrastructure unit, after it's running into weak demand for the offering, Bloomberg reports.
- There's no decision yet to postpone but one could come as early as today.
- Telefonica already ran into disappointment with a lower valuation for the offering than it hoped -- €3.38B at the midpoint, vs. a hoped-for €3.5B. Just 40% of the unit was planned for sale, which would bring Telefonica just €1.2B.
- The pricing for the offering was set to be fixed today.