Telefonica To Sell 45% Stake In Bluevia To Consortium For €1.02 Bln - Quick Facts

(RTTNews) - Spanish telecom major Telefonica SA (TDE.L, TEF) announced Monday that a consortium formed by Crédit Agricole Assurances and Vauban Infrastructure Partners agreed to buy 45% stake in Bluevia, a neutral FTTH wholesale provider in Spain, for 1.02 billion euros. The transaction values Bluevia at 2.50 billion euros.

The companies have reached an agreement to set up Bluevia Fibra, S.L., a platform for the commercialization and deployment of a fibre network or FTTH in Spain, mainly in rural areas and with limited overlap with other networks.

The transaction is subject to obtaining the corresponding authorizations from the regulatory authorities and the closing is expected by the end of 2022.

Upon completion of the deal, Telefónica Group will retain control of Bluevia with a 55% stake, which will be held by Telefónica España and Telefónica Infra, with 30% and 25% stakes respectively. Bluevia will be a neutral wholesale operator with Telefónica España as anchor client.