KKR News – KKR, Telefónica and Entel Launch Fibre Optics Joint Venture in Peru
KKR, Telefónica Hispanoamérica and Entel Peru have announced the launch of a new fibre optics joint venture in Peru. The new company, ON*NET Fibra de Perú, will be an independent, open access wholesale fibre network that will aim to provide high-speed connectivity to homes and businesses across the country.
KKR will hold a 54% majority stake in the new company, with Telefónica Hispanoamérica holding 36% and Entel Peru holding the remaining 10%. The transaction is still subject to regulatory approval, but is expected to close in the coming months.
ON*NET Fibra de Perú will combine the existing fibre assets of Entel Peru and Telefónica Peru, including those held under Telefonica’s PangeaCo investment vehicle. The new network will have a footprint of over 2 million homes and businesses, and KKR plans to invest an additional $200m to expand the network to 5.2 million premises by the end of 2026.
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The new joint venture is a significant development for the Peruvian telecommunications market. Peru is a rapidly growing country with a young and tech-savvy population, and there is a growing demand for high-speed connectivity. ON*NET Fibra de Perú will be well-placed to meet this demand, and the new network is expected to boost economic growth and development in Peru.
Photo by Kirill Sh on Unsplash
Benefits of the joint venture
The joint venture between KKR, Telefónica and Entel Peru will bring a number of benefits to the Peruvian telecommunications market. These include:
- Increased competition: The new network will create a more competitive market for fibre optic services in Peru. This will benefit consumers, who will have more choice and lower prices.
- Increased investment: KKR’s investment of $200m will help to accelerate the expansion of the fibre optic network in Peru. This will improve connectivity for businesses and homes across the country.
- Improved efficiency: The joint venture will allow the three companies to share resources and expertise. This will help to improve the efficiency of the network and reduce costs.
Conclusion
The launch of ON*NET Fibra de Perú is a significant development for the Peruvian telecommunications market. The new network will help to improve connectivity and boost economic growth in the country.
The joint venture between KKR, Telefónica and Entel Peru is a win-win for all parties involved, and it is a positive sign for the future of the Peruvian telecommunications market.
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