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Arqiva seeks £1.5 bn IPO for quick debt fix after failed sale

UK digital tower company Arqiva’s bid to raise £1.5 billion ($2 billion) by selling 25% of its shares as part of a £6 billion IPO looks like a desperate bid to fix its finances after two years touting around for a private buyer. To a greater extent than elsewhere in Europe this reflects the long-term decline and inevitable ultimate demise of digital terrestrial transmission (DTT), even though demand for DTT services is holding up quite well at present. This move comes amid uncertainty in Europe amplified by Brexit and other factors such as the current instability in Spain, making IPOs look risky. Other European tech companies such as O2 owner Telefonica and financial software firm Misys have recently called off…

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