Ufinet to make an initial USD150m investment in Ecuador fibre business

9 Nov 2021

Spanish company Ufinet, the largest fibre-optic infrastructure wholesale operator in Latin America, has announced plans to invest an initial USD150 million in Ecuador, partnering with local company Nedetel. The company made the commitment during the recent official visit to Spain made by Ecuador’s president Guillermo Lasso, at which it also revealed additional investment plans totalling around USD100 million to be implemented in the coming years with the support of its shareholders, the English investment fund Cinven, and the Italian multinational Enel.

Stefano Lorenzi, Executive President of Ufinet, said in a press release: ‘We are very excited to join Nedetel to the Ufinet group and the investment made in a country like Ecuador where, in addition to the great growth opportunities in our business, we see a favourable context for a foreign investor thanks to the actions taken by the new government.’

Francisco Javier Lacasa, COO and Executive Vice President at Ufinet, explained the company is focused on helping to bridge Ecuador’s digital divide by providing wholesale telecom services to rural areas via its 12,000km fibre-optic network in the country, adding: ‘This will be done by neutrally supporting local ISPs, as Nedetel has done so far, providing them with a world-class service supported in OTN and MPLS networks of the very latest generation and complying with the most demanding international standards, for which we have the excellent Nedetel team, reinforced by all the resources and international know-how of Ufinet.’

Ecuador, UFINET