Telefonica closes sale of 60% stake in FTTH unit to KKR

12 Jan 2022

Telefonica Colombia (Movistar) has confirmed that it has closed its previously agreed sale of a stake in its fibre-to-the-home (FTTH) unit to investment firm KKR, after receiving the corresponding regulatory authorisations. Post-transaction, Telefonica Colombia will maintain a 40% stake in the new, independent company. The new FTTH unit is valued at USD500 million, meaning Telefonica Colombia received a payment of USD200 million for its share of the assets.

The new 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.

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