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UK towerco Arqiva seeks IPO after private sale collapses

UK digital tower company Arqiva has announced a bid to raise £1.5bn ($2bn) by selling 25% of its shares as part of a £6bn IPO, a new move 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 of digital terrestrial transmission (DTT), which is broadcast from Arqiva’s TV towers. It has also struggled in some of its efforts to diversify its wireless business, adding WiFi, LPWAN and small cell sites to its macro tower portfolio. Those initiatives have made limited impact on revenues, and the firm has backed away from some of the efforts, such as its alliance with Sigfox. It may…

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