TELEFONICA (TEF SM): Singapore SWF and CVC may be preparing a joint €1.76b bid for a minority stake (47%?) in TEF´s unlisted telecom tower and submarine cable affiliate Telxius,. The bid would value the TEF affiliate at €3.75b. TEF scrapped last year the IPO of Telxius as it did not attract sufficient investor interest. The aborted placing valued the company at between €3-3.75b. Ardian or KKR may also be interested in Telxius. (Expansion)