{"id":441320,"date":"2021-02-22T17:13:28","date_gmt":"2021-02-22T22:13:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=441320"},"modified":"2021-02-22T17:13:28","modified_gmt":"2021-02-22T22:13:28","slug":"kkr-to-acquire-telefonica-chiles-wholesale-fiber-optic-network-to-create-first-open-access-network-in-chile","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-acquire-telefonica-chiles-wholesale-fiber-optic-network-to-create-first-open-access-network-in-chile\/","title":{"rendered":"KKR to Acquire Telef\u00f3nica Chile\u2019s Wholesale Fiber Optic Network to Create First Open Access Network in Chile"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>KKR to Acquire Telef\u00f3nica Chile\u2019s Wholesale Fiber Optic Network to <\/b><b>Create First Open Access Network in Chile<\/b><\/p>\n<p class=\"bwalignc\"><i>Newly Formed Independent Company to Increase <\/i><i>High Speed Broadband Access for Chileans<\/i><\/p>\n<p>SANTIAGO DE CHILE, NEW YORK &amp; MADRID&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nKKR, a leading global investment firm, today announced it has entered into an agreement with Telef\u00f3nica, a leading global telecommunications company, to establish Chile\u2019s first open access wholesale fiber optics company with the mission to bring greater broadband access across Chile.\n<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20210222005928\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210222005928\/en\/<\/a><\/p>\n<p>\nUnder the agreement, KKR will acquire a majority stake in Telef\u00f3nica Chile\u2019s existing fiber optic network, the largest fiber optic network in Chile, and make that network open access through a newly established independent Chilean company with assets managed locally. Telef\u00f3nica will hold a 40% stake in the business. The newly formed enterprise will serve as Chile\u2019s first wholesale digital infrastructure network open to all current and future telecom operators in Chile, creating a competitive marketplace benefitting consumers and businesses across the country.\n<\/p>\n<p>\nDespite Chile leading Latin America in GDP per capita, it is currently third-ranked in fiber-to-the-home connectivity. Fiber optic service offers very high reliability and speeds 10-1000 times faster than cable and legacy telecommunication networks.\n<\/p>\n<p>\nUpon approval, the new business plans to expand broadband coverage in Chile from 2 million households today to a minimum of 3.5 million households by 2023, and to provide wholesale service to more than 40,000 businesses, telecom towers, and small cells. The newly formed network will provide access to under-served areas with more than two-thirds of households covered by the network being outside of high-income urban areas.\n<\/p>\n<p>\n\u201cWe are excited to be working with Telef\u00f3nica to create the first-ever open access wholesale fiber network in Chile. This will create competition where none exists today, helping Chilean families, companies, and the economy recover and grow in the digital economy,\u201d said Waldemar Szlezak, senior leader on KKR\u2019s infrastructure investment team.\n<\/p>\n<p>\nAlfonso G\u00f3mez Palacio, CEO Telef\u00f3nica HispAm, added, \u201cThis transaction demonstrates the value of our infrastructure and our willingness to contribute to the sustainable development of the fiber market in Chile. We have seen increased commercial activity over the last 12 months, and this transaction will further support this momentum as we will be able to accelerate the fiber-optic deployment. Our stake in the new company provides us with substantial flexibility in the long-term, in a market with enormous future potential. We are proud to share this project with our partners at KKR, a company with whom we have worked on key initiatives for Telef\u00f3nica.\u201d\n<\/p>\n<p>\nThe transaction is valued at approximately US$1 billion and is expected to close in the first half of 2021, subject to regulatory approvals.\n<\/p>\n<p>\nThe state-of-the-art fiber optic network is built to the highest technical standards, with its existing infrastructure having supported reliable service over the past year when COVID-induced disruptions substantially increased the need for greater bandwidth for tele-work, school, health, and more. In 2020, the network, which is being transferred to the newly formed company, was recognized as the Best and Fastest Fixed Network in Chile.\n<\/p>\n<p>\nThe new company will be controlled by KKR and will leverage the firm\u2019s global experience in digital infrastructure and in operating and deploying fiber networks, including related investments in FiberCop in Italy, Hyperoptic in the U.K., Deutsche Glasfaser in Germany, Telxius in Europe and Latin America, Hivory in France, Global Technical Realty in Europe, Bharti Infratel in India, and Pinnacle Towers in the Philippines.\n<\/p>\n<p>\nKKR is making the investment through its Global Infrastructure Investors III Fund. KKR first established its global infrastructure team and strategy in 2008 and has since been one of the most active infrastructure investors around the world. Over this period, the Firm has deployed more than $24 billion across approximately 40 infrastructure investments, and currently has a team of 45 dedicated investment professionals.\n<\/p>\n<p><b>About KKR<\/b><\/p>\n<p>\nKKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR\u2019s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR\u2019s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR &amp; Co. Inc. (NYSE: KKR), please visit KKR\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.kkr.com&amp;esheet=52383142&amp;newsitemid=20210222005928&amp;lan=en-US&amp;anchor=www.kkr.com&amp;index=1&amp;md5=aff1e20b92f05c146fd35b68a6b573fa\">www.kkr.com<\/a> and on Twitter @KKR_Co.\n<\/p>\n<p><b>About Telef\u00f3nica<\/b><\/p>\n<p>\nTelef\u00f3nica is one of the largest telecommunications service providers in the world. The company offers fixed and mobile connectivity as well as a wide range of digital services for residential and business customers. With 342 million customers, Telef\u00f3nica operates in Europe and Latin America. Telef\u00f3nica is a 100% listed company and its shares are traded on the Spanish Stock Market and on those in New York and Lima. In 2019, Telef\u00f3nica set an action plan as a catalyst for the transformation of the company. The plan seeks to prioritize its four relevant markets and grow sustainably in the long term, boost its growth potential while leveraging the value of its infrastructure, increase agility and improve efficiency.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210222005928r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210222005928\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210222005928\/en\/<\/a><\/span><\/p>\n<p><b>Media:<br \/>\n<\/b><br \/>Azerta (For KKR Chile):<br \/>\n<br \/>Fernando G\u00f3mez<br \/>\n<br \/>+56 9 9576 9049<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:fgomez@azerta.cl\">fgomez@azerta.cl<br \/>\n<\/a><br \/>Daniela Maldonado<br \/>\n<br \/>+56 9 9672 0506<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:dmaldonado@azerta.cl\">dmaldonado@azerta.cl<br \/>\n<\/a><\/p>\n<p>For KKR Americas:<br \/>\n<br \/>Cara Major or Miles Radcliffe-Trenner<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:media@kkr.com\">media@kkr.com<br \/>\n<\/a><\/p>\n<p>For Telef\u00f3nica:<br \/>\n<br \/>Dulce Jim\u00e9nez<br \/>\n<br \/>+52 55 1637 7623<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:dulce.jimenez@telefonica.com\">dulce.jimenez@telefonica.com<br \/>\n<\/a><\/p>\n<p>For Telefonica Chile:<br \/>\n<br \/>Ricardo Ib\u00e1\u00f1ez<br \/>\n<br \/>+56 9 9320 7063<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:ricardo.ibanez@telefonica.com\">ricardo.ibanez@telefonica.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Chile United States South America North America Spain Europe New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Other Professional Services Technology Other Technology Telecommunications Consulting Banking<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210222005928\/en\/409663\/3\/kkr-logo_%282%29.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210222005928\/en\/860465\/3\/TEL-logo_color_pos_%281%29.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>KKR to Acquire Telef\u00f3nica Chile\u2019s Wholesale Fiber Optic Network to Create First Open Access Network in Chile Newly Formed Independent Company to Increase High Speed Broadband Access for Chileans SANTIAGO DE CHILE, NEW YORK &amp; MADRID&#8211;(BUSINESS WIRE)&#8211; KKR, a leading global investment firm, today announced it has entered into an agreement with Telef\u00f3nica, a leading global telecommunications company, to establish Chile\u2019s first open access wholesale fiber optics company with the mission to bring greater broadband access across Chile. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210222005928\/en\/ Under the agreement, KKR will acquire a majority stake in Telef\u00f3nica Chile\u2019s existing fiber optic network, the largest fiber optic network in Chile, and make that network open access through a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-acquire-telefonica-chiles-wholesale-fiber-optic-network-to-create-first-open-access-network-in-chile\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;KKR to Acquire Telef\u00f3nica Chile\u2019s Wholesale Fiber Optic Network to Create First Open Access Network in Chile&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-441320","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>KKR to Acquire Telef\u00f3nica Chile\u2019s Wholesale Fiber Optic Network to Create First Open Access Network in Chile - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-acquire-telefonica-chiles-wholesale-fiber-optic-network-to-create-first-open-access-network-in-chile\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KKR to Acquire Telef\u00f3nica Chile\u2019s Wholesale Fiber Optic Network to Create First Open Access Network in Chile - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"KKR to Acquire Telef\u00f3nica Chile\u2019s Wholesale Fiber Optic Network to Create First Open Access Network in Chile Newly Formed Independent Company to Increase High Speed Broadband Access for Chileans SANTIAGO DE CHILE, NEW YORK &amp; MADRID&#8211;(BUSINESS WIRE)&#8211; KKR, a leading global investment firm, today announced it has entered into an agreement with Telef\u00f3nica, a leading global telecommunications company, to establish Chile\u2019s first open access wholesale fiber optics company with the mission to bring greater broadband access across Chile. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210222005928\/en\/ Under the agreement, KKR will acquire a majority stake in Telef\u00f3nica Chile\u2019s existing fiber optic network, the largest fiber optic network in Chile, and make that network open access through a &hellip; Continue reading &quot;KKR to Acquire Telef\u00f3nica Chile\u2019s Wholesale Fiber Optic Network to Create First Open Access Network in Chile&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-to-acquire-telefonica-chiles-wholesale-fiber-optic-network-to-create-first-open-access-network-in-chile\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-22T22:13:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210222005928r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-acquire-telefonica-chiles-wholesale-fiber-optic-network-to-create-first-open-access-network-in-chile\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-acquire-telefonica-chiles-wholesale-fiber-optic-network-to-create-first-open-access-network-in-chile\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"KKR to Acquire Telef\u00f3nica Chile\u2019s Wholesale Fiber Optic Network to Create First Open Access Network in Chile\",\"datePublished\":\"2021-02-22T22:13:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-acquire-telefonica-chiles-wholesale-fiber-optic-network-to-create-first-open-access-network-in-chile\\\/\"},\"wordCount\":1007,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-acquire-telefonica-chiles-wholesale-fiber-optic-network-to-create-first-open-access-network-in-chile\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210222005928r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-acquire-telefonica-chiles-wholesale-fiber-optic-network-to-create-first-open-access-network-in-chile\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kkr-to-acquire-telefonica-chiles-wholesale-fiber-optic-network-to-create-first-open-access-network-in-chile\\\/\",\"name\":\"KKR to Acquire Telef\u00f3nica Chile\u2019s Wholesale Fiber Optic Network to Create First Open Access Network in Chile - 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This press release features multimedia. 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