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.
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.
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