Telefonica to Sell 45% Stake in Fiber Network Company Bluevia Fibra for $1 Billion
25 Juli 2022 - 8:16AM
Dow Jones News
By Cristina Roca
Telefonica SA said Monday that it has agreed to sell a 45% stake
in Bluevia Fibra SL to a consortium formed by Vauban Infrastructure
Partners and Credit Agricole SA for 1.02 billion euros ($1.04
billion) in cash.
The deal values Bluevia at EUR2.5 billion. The company, in which
Telefonica will keep a 55% stake through its subsidiaries, will
deploy and commercialize a fiber-to-the-home network, mainly in
rural Spain.
Bluevia will acquire 3.5 million premises from Telefonica--about
13% of the Spanish telecommunication company's FTTH network in
Spain--and will deploy another 1.5 million over the next two
years.
The deal also includes agreements for Telefonica to provide
services to Bluevia.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
July 25, 2022 02:01 ET (06:01 GMT)
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