Colombia. – Telefónica closes sale of KKR fiber optic assets in Colombia – Publimetro México

Madrid, 12 (European Press)

Telefónica Colombia has terminated the agreement reached with a Colombian company controlled by KKR (Infraco) to sell fiber optic assets and provide fiber delivery and deployment services, once the corresponding licenses are obtained from the regulatory authorities and after certain agreed terms are met.

Specifically, Telefónica Colombia received in return $200 million (€176 million) and 40% of the shares of a Spanish company controlled by KKR (HoldCo), the sole shareholder of InfraCo, according to the Spanish operator of the national stock exchange. Commission (CNMV).

HoldCo’s implied valuation derived from the deal is estimated at $500 million (about €400 million at current exchange rates), which is about 20 times the initial OIBDA.

Telefónica highlighted that this operation is part of the Group’s active portfolio management policy, based on a strategy to create value and improve return on capital.