MADRID (Reuters) – Telefonica’s sale of dangers in its fiber optic community in Peru to private fairness fund KKR and Chilean telecommunications firm Entel revealed in July 2023 failed, Entel claimed in a declaring to the regulatory authority on Thursday.
Telefonica claimed it’s preserving talks with Entel and KKR, in a special declaring to the Peruvian securities market regulatory authority.
The provide was revealed in July 2023 when Telefonica claimed it had truly consented to supply a 54% danger in its fiber community to KKR and a ten% danger to Entel.
The Chilean enterprise claimed the provide failed “due to the breach of certain closing conditions” it didn’t outline.
Over the last few years, Telefonica has truly completed a group of property gross sales to reduce monetary debt and to help cash the numerous monetary funding wanted to develop Fifth Generation cellular networks.
Telefonica didn’t reveal the value of the deal but claimed the provide would definitely scale back its monetary debt by 200 million euros ($ 217.8 million).
The deal valued 100% of the community at relating to 550 million euros, consisting of monetary debt, in accordance with a monetary useful resource close to the provide.
(Reporting by Javi West Larra ñaga, modifying by Inti Landauro and Louise Heavens)
