The source told the media, “It is a sale that makes sense. We’ve multiplied that business by almost seven times since we formed it. It is a natural ‘inside cleaning.’ The asset was formed a long time ago, it is stable, a market leader. We received a lot of interest from several sources and we think it was worth testing the market.”

It has also been reported that the company might fetch $1 billion or more. MTP works with major carriers in Mexico and has over 3,000 towers, according to the company website.

Digital bridge, which is the predecessor of Digital Colony and Macquire Mexican Infrastructure formed Mexico Telecom partners in 2014. Back then, the company had 550 towers in its network.

Apart from MTP, the Macquarie group also owns Generadora Electrica San Rafael, a hydropower generator; Decarred, a road concessionaire in Durango; and Parque Solar Coahuila, a 22.5MW solar park. Talking about Digital Colony, the company has three major investments in the tower segment region. Apart from MTP, the telecom infrastructure fund also owns Andean Telecom Partners (ATP), which operates fiber and towers in Chile, Peru and Colombia; and Highline do Brasil. In 2017, Andean Telecom Partners announced that they have acquired Torres Unidas (TU) from Berkshire Partners., which, in turn, added 1,644 sites to ATP’s portfolio.

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IFM Correspondent

January 20, 2017: A gauge of UK house prices fell for the first time in five months in December as the supply of properties for sale remained weak and values slumped in London.

The Royal Institution of Chartered Surveyors (RICS) said its index declined to 24 from 29 in November, indicating that a smaller majority of respondents saw price gains. Predicted sales over the next three months also slowed, with only 4 percent more respondents anticipating an increase. However, the year-ahead sales outlook rose slightly.

“A familiar story relating to supply continues to drive both the sales and lettings markets, impacting on activity, prices and rents,” said Simon Rubinsohn, chief economist, RICS. “The latest RICS survey provides further evidence that both price and rent pressures are continuing to spread from the more highly valued to more modestly valued parts of the market, for good or ill.”

Supporting the predicted slow start to 2017, the survey showed that the number of new house buyers rose only marginally in December following much stronger figures for the previous four months.

According to the report, house prices are expected to rise in 2017 with the exception of London where expectations remain relatively subdued.

London was the only area to experience a drop in prices while the North West of England had the strongest price growth.

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IFM Correspondent

October 19, 2016: Saudi Arabia has officially launched its first international bond sale. The move comes as the Kingdom looks to debt markets to help ease its cash squeeze as a result of the two-year oil price slump. The low oil price has led to a huge debt for Saudi Arabia, which is battling widespread job cuts, loss of projects and slow economic growth.

The sale has officially started with the Kingdom aiming to raise $10 to $15 billion in three offerings — five-year, 10-year and 30-year bonds. The government aims to sell dollar-denominated bonds due in five years for a spread of 160 basis points, 10-year notes at 185 basis points and 30-year securities at 235 basis points. This is much higher than similar bonds issued by Qatar.

Saudi Arabia has for years run its economy based on export of oil but was last year facing a budget deficit of up to $97 billion.

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IFM Correspondent

July 11, 2016: Tata Steel has put on hold its plan to sell its UK assets in the wake of Brexit and the uncertainty surrounding rules and regulations.

The company is planning to postpone the sale until clarity emerges in UK regarding new rules. The board plans to meet on Friday to ensure UK authorities are committed to offering incentives to potential buyers.

In March, Tata Steel decided to put its entire UK business on sale in the face of a slump in demand and prices, nine years after it bought Corus Group Plc. Corus was the biggest acquisition by an Indian company.

Brexit has brought uncertainties into the sale process. Many of the shortlisted bidders pulled out due to uncertainty in the wake of Brexit, Bloomberg reported.

UK business secretary Sajid Javid is expected to meet Tata Steel representatives on Friday to discuss issues related to the sale process.

Europe contributes significantly to Tata Steel UK’s total steel sales and changes in trade policies between the UK and the EU could have an impact on its future operations.

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