February 24, 2021
The Chilean subsidiary of the Spanish telecommunications company Telefónica has sold 60% of its fiber optics business InfraCo to US investment firm KKR for $1 billion, it said in a securities filing on Monday.
The purchase price, equal to 18.4 times operating income before depreciation and amortization (OIBDA), will allow the Madrid-based telco to lower debt by roughly €400 million ($486 million), it said.
Telefónica will hold on to 40% of InfraCo and sign an agreement with the KKR-controlled co
Spanish telco earns $1 bln from the sale of 60% of InfraCo to KKR