Telefonica Chile Agrees to Sell Majority Stake in Fiber Business
By Joshua Kirby
Telefonica SA said late Monday that its Chilean subsidiary
Telefonica Chile has agreed to sell 60% of the shares in its fiber
business InfraCo to a fund managed by KKR and Co.
The sale to KKR Alameda Aggregator values InfraCo at around $1
billion and will reduce the group's net debt by around 400 million
euros ($486 million), the Spanish telecommunications company said.
As part of the deal, Telefonica Chile will sell around two million
fiber-equipped homes to InfraCo. Certain service-provision
agreements are also included in the transaction.
The stake-sale is subject to antitrust clearance, Telefonica
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(END) Dow Jones Newswires
February 23, 2021 01:17 ET (06:17 GMT)
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