Chilean telecoms group Entel has agreed to sell its fibre infrastructure division to OnNet Fibra, a joint venture controlled 60/40 by KKR and Telefonica Chile, Diario Financiero writes. The sale comprises a network that passes 1.2 million premises and includes an agreement to sign a contract to continue provision of home broadband over the OnNet network – with coverage of around 3.9 million premises – and several other complementary contracts. The deal is estimated to be valued at around USD358 million.
Commenting on the development, Entel GM Antonio Buchi was quoted as saying: ‘In a highly competitive environment, this operation allows us to significantly strengthen our fibre-optic coverage at the national level … in this case on a shared and high-quality network, giving us almost immediate access … to a coverage of over 3.9 million homes, to reach at least 4.3 million by 2024. With this, we will be able to give a strong boost to our offer to the home market and companies, especially medium and small ones’.
As previously reported by TeleGeography’s CommsUpdate, Entel announced in March this year that it was looking for buyers for its fibre and data centre businesses.