By Cristina Roca 
 

Telefonica SA said Monday that it has agreed to sell a 45% stake in Bluevia Fibra SL to a consortium formed by Vauban Infrastructure Partners and Credit Agricole SA for 1.02 billion euros ($1.04 billion) in cash.

The deal values Bluevia at EUR2.5 billion. The company, in which Telefonica will keep a 55% stake through its subsidiaries, will deploy and commercialize a fiber-to-the-home network, mainly in rural Spain.

Bluevia will acquire 3.5 million premises from Telefonica--about 13% of the Spanish telecommunication company's FTTH network in Spain--and will deploy another 1.5 million over the next two years.

The deal also includes agreements for Telefonica to provide services to Bluevia.

 

Write to Cristina Roca at cristina.roca@wsj.com

 

(END) Dow Jones Newswires

July 25, 2022 02:01 ET (06:01 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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