Enel mulling EUR2.1bn takeover of Cinven’s 79% UFINET stake

9 Nov 2021

Italian energy firm Enel is preparing to take full control of Madrid-based fibre-optic wholesaler UFINET by exercising an option to buy the 79% owned by private equity firm Cinven, three sources with knowledge of the matter have informed Reuters. Enel, which has owned 21% of the LatAm-focused fibre player since June 2018, could pay up to EUR2.1 billion (USD2.4 billion) for the majority stake.

TeleGeography notes that UFINET currently operates more than 75,000km of optical fibre in Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Colombia, Ecuador, Peru, Brazil, Paraguay, Argentina and Chile. For its part, Enel has a presence in more than 30 countries worldwide, distributing electricity via 2.2 million kilometres of power lines in selected countries.

Spain, Cinven, Enel, UFINET