KKR, Allianz, AXA vying for stake in Reintel fibre business

13 Oct 2021

Financial investors including the likes of KKR, Allianz Capital Partners and AXA Investment Managers are expected to participate in an auction for a 49% stake in the fibre-optic subsidiary of Spanish grid operator Red Electrica, Expansion has reported, citing unnamed sources. A deal for Red Electrica Infraestructuras de Telecomunicacion (Reintel) could fetch between EUR1.2 billion (USD1.4 billion) and EUR1.3 billion, the business daily indicated.

Reintel, which has been responsible for managing Red Electrica’s telecoms network since 1 July 2015, currently operates more than 50,000km of fibre infrastructure, which is primarily laid along the electricity grid and rail network. The company claims to be the largest dark fibre provider in Spain.

Spain, Kohlberg Kravis Roberts & Co (KKR), Red Electrica Infraestructuras de Telecomunicacion (Reintel)