Telefónica sells fiber optics unit in Chile

Telefónica sells fiber optics unit in Chile

M&A Telecoms Fixed-Line Chile Spain United States

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

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