MASMOVIL seeks partner for Portuguese fibre backbone

5 Feb 2020

Spanish alternative telecoms operator Grupo MASMOVIL is planning to deploy a fibre backbone in Portugal to support its new subsidiaries, Nowo and Onitelecom (ONI) – which were acquired in a dual takeover in November last year. According to Spanish business site Expansion, MASMOVIL has commenced negotiations with a number of international investors regarding funding for the initiative, including Digital Colony, Macquarie, Morgan Stanley and Aberdeen Standard Investments. When operational, Nowo and ONI will be the long-term anchor tenants, but the infrastructure will also be made available to third parties on a wholesale basis.

As previously reported by TeleGeography’s CommsUpdate, the double takeover was carried out by MASMOVIL IBERCOM and GAEA INVERSION (a company specifically incorporated for the realisation of the transaction). The telcos were previously owned by Cabolink, a Luxembourgish company run by funds managed by US private equity firm KKR. For its part, KKR acquired the businesses in late 2018 after converting the debt it was owed into a controlling stake.