Telefonica in talks with CDPQ over Brazilian fiber spin-off

摘要

Telefonica is in advanced talks with Canadian pension fund Caisse de Depot et Placement du Quebec (CDPQ) to create a wholesale fiber-optic broadband business in Brazil, Bloomberg reports. While negotiations are at an advanced stage, the agreement could still be delayed or fall apart, sources told the news agency. If the deal comes to fruition, Telefonica Brasil - which is being advised by Banco Santander - will split a 50% stake with sister company Telefonica Infra, while the strategic investor will assume control of the other 50% of the new business. Reports have suggested that the new entity will be known as FiBrasil. That the projected transaction mirrors Telefonica's recent fiber deal in Chile. On 22 February Telefonica and KKR reached an agreement to invest in InfraCo, a company that will be in charge of deploying and operating fiber-to-the-home (FTTH) infrastructure in Chile. In that instance, Telefonica Chile will retain a 40% stake in the venture, while KKR will acquire a 60% of InfraCo. The transaction values 100% of InfraCo at US$1.0 billion and is expected to close in the first half of 2021.