In a significant move within the European telecommunications landscape, Telefonica and Vodafone Spain have reportedly sold a 30% stake in their joint fibre venture to AXA Investment Management, as reported by Spanish outlet El Confidencial. The deal is approximately worth €600 million, though the telcos have yet to officially announce it.
This development highlights the competition and investor interest in the Spanish fibre market. For context, the venture valued at around €1.5 billion, including debt, suggests a favorable outcome for the selling parties. Since conceptualizing their fibre collaboration, Telefonica held a 63% stake, while Vodafone owned 37%. These will adjust to 60% and 10%, respectively, following the agreement with AXA.
The venture, named Fiberpass, operates within Spain’s mature fibre market, covering 3.6 million homes and servicing 1.4 million customers. Competing offers reportedly came from firms like Vauban Infrastructure Partners, illustrating high demand. The fibre market in Spain, known for robust network partnerships, is reaffirmed as an attractive opportunity for investors. Vodafone, now under investor Zegona while maintaining its brand, has actively sought partnerships in the sector, including a recent venture with MasOrange.
Fiberpass represents solid business foundations within a competitive market landscape as cooperation and investments in fibre networks continue to expand. The interest shown by prominent investment houses underscores the market’s lucrative potential. If El Confidencial’s report proves accurate, it marks a strategic step for Telefonica and Vodafone in their pursuit of optimizing fibre infrastructure management and profitability.
As financial and strategic maneuvers persist, the telecom landscape’s evolution through such collaborations will be pivotal for stakeholders aiming to leverage infrastructure for enhanced service delivery. For telecommunications enthusiasts and professionals alike, these developments offer a glimpse into the strategic alliances shaping the future of connectivity across Europe.
