Telefonica Colombia, KKR unveil FTTH JV

19 Jul 2021

Telefonica Colombia (Movistar) has teamed up with investment firm KKR to form a new company that will deploy a fibre-to-the-home (FTTH) network in Colombia. The infrastructure firm seeks to establish a fibre-optic network that passes 4.3 million properties across 90 cities, and the companies say that the infrastructure will be made available to other operators on an open access basis.

The new company will be 60% owned by KKR and 40% by Telefonica Colombia. Telefonica will contribute its current FTTH infrastructure, which already passes 1.2 million homes in 50 towns and cities. Telefonica will receive a payment of USD200 million and will be eligible for a performance-based consideration of up to USD100 million. The overall transaction values the new company at USD500 million.

Colombia, Kohlberg Kravis Roberts & Co (KKR), Telefonica Colombia (Movistar)