MADRID (Reuters) – Telefonica’s sale of risks in its fiber optic network in Peru to personal equity fund KKR and Chilean telecommunications company Entel revealed in July 2023 failed, Entel claimed in a declaring to the regulatory authority on Thursday.
Telefonica claimed it is preserving talks with Entel and KKR, in a different declaring to the Peruvian securities market regulatory authority.
The offer was revealed in July 2023 when Telefonica claimed it had actually consented to offer a 54% risk in its fiber network to KKR and a 10% risk to Entel.
The Chilean business claimed the offer failed “due to the breach of certain closing conditions” it did not define.
Over the previous couple of years, Telefonica has actually accomplished a collection of property sales to minimize financial debt and to assist money the significant financial investment needed to develop 5G mobile networks.
Telefonica did not reveal the worth of the deal yet claimed the offer would certainly reduce its financial debt by 200 million euros ($ 217.8 million).
The deal valued 100% of the network at regarding 550 million euros, consisting of financial debt, according to a financial resource near the offer.
(Reporting by Javi West Larra ñaga, modifying by Inti Landauro and Louise Heavens)
