{"id":514235,"date":"2021-07-16T18:38:05","date_gmt":"2021-07-16T22:38:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-andtelefonica-to-create-colombias-first-nationwide-open-access-fiber-optic-network\/"},"modified":"2021-07-16T18:38:05","modified_gmt":"2021-07-16T22:38:05","slug":"kkr-andtelefonica-to-create-colombias-first-nationwide-open-access-fiber-optic-network","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-andtelefonica-to-create-colombias-first-nationwide-open-access-fiber-optic-network\/","title":{"rendered":"KKR andTelef\u00f3nica to Create Colombia\u2019s First Nationwide Open Access Fiber Optic Network"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }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 and<\/b><b>Telef\u00f3nica to Create Colombia\u2019s First Nationwide Open Access Fiber Optic Network<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nInvestment to accelerate ultra-fast digital connectivity to improve quality and coverage for Colombians nationwide, more than quadrupling Telef\u00f3nica\u2019s existing fiber optic network.\n<\/li>\n<li>\nNewly formed company to offer open access wholesale connectivity with modern fiber optic technology for all internet service providers in Colombia, including Telef\u00f3nica.\n<\/li>\n<li>\nKKR\u2019s large direct investment in Colombia with a transaction value of approximately $500 million affirms its long-term commitment to the region.\n<\/li>\n<\/ul>\n<p>BOGOT\u00c1, Colombia &amp; NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nKKR, a leading global investment firm, today announced an agreement with Telef\u00f3nica Colombia, a subsidiary of the leading Spanish telecom group Telef\u00f3nica, to establish Colombia\u2019s first independent nationwide open access wholesale digital infrastructure company.\n<\/p>\n<p>\nOn a mission to bring greater broadband access across Colombia, the new company will expand availability of ultra-fast fiber optic internet, benefitting more consumers and businesses across Colombia. As part of the agreement, KKR will acquire a majority stake in Telef\u00f3nica&#8217;s existing fiber optic network, the largest in Colombia, and make the network open access through a newly established independent entity, which KKR will control as the majority shareholder. Telef\u00f3nica will be a minority shareholder in the new company, with a 40% stake.\n<\/p>\n<p>\nThe company will be run independently by a local team in Colombia but brings together the expertise of both KKR and Telef\u00f3nica to build and operate Colombia\u2019s premier digital infrastructure network. Recently, the companies similarly <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.businesswire.com%2Fnews%2Fhome%2F20210222005928%2Fen%2FKKR-to-Acquire-Telef%25C3%25B3nica-Chile%25E2%2580%2599s-Wholesale-Fiber-Optic-Network-to-Create-First-Open-Access-Network-in-Chile&amp;esheet=52461602&amp;newsitemid=20210716005494&amp;lan=en-US&amp;anchor=joined+efforts&amp;index=1&amp;md5=f6f75123359937fd44659b9b45277a61\">joined efforts<\/a> to establish ON*NET Fibra as Chile\u2019s first open access wholesale fiber optic network.\n<\/p>\n<p>\nUpon closing of the transaction, Telef\u00f3nica\u2019s existing fiber optic network will become open access and available for all internet service providers in Colombia to utilize, including Telef\u00f3nica. With the investment from KKR, the new company plans to expand existing fiber optic coverage from approximately 1.2 million homes today to, at minimum, 4.3 million homes by the end of 2024, covering at least 87 municipal areas in Colombia, with more than half consisting of underserved areas outside of high-income urban areas.\n<\/p>\n<p>\nThe network will utilize state-of-the art technology to deliver connection speeds up to 1000 times faster than conventional networks currently available to most Colombians, improving both quality and coverage. The investment will help to close the digital gap, facilitate new 5G connectivity, and provide access to telework, telehealth, and virtual education to far more Colombians than have it today.\n<\/p>\n<p>\n\u201cWe are thrilled to, once again, be working with Telef\u00f3nica to provide greater broadband access to those who need it, and to be doing so in Colombia, a country we believe is primed for significant growth ahead and which serves as an attractive destination for investors,\u201d said Waldemar Szlezak, senior leader of KKR&#8217;s infrastructure investment team. \u201cThis new venture in Colombia, along with ON*NET Fibra de Chile, demonstrates the potential to invest in innovative financing and growth strategies to promote digital infrastructure in Latin America.\u201d\n<\/p>\n<p>\nMar\u00eda Fernanda Su\u00e1rez Londo\u00f1o, a senior advisor to KKR, added, \u201cMore Colombian families and small businesses should have the ability to access ultra-high speed digital services. KKR\u2019s investment will help bridge that gap by promoting competition and committing to expand the network in municipalities across Colombia. It also indicates the potential for KKR\u2019s continued growth in digital infrastructure in Colombia and in the region.\u201d\n<\/p>\n<p>\nAlfonso G\u00f3mez Palacio, CEO of Telef\u00f3nica Spanish-speaking Latin America, explained that &#8220;the agreement with KKR will accelerate the deployment of fiber optic in Colombia at an unprecedented rate, in a market that has shown enormous potential in the last year. In addition, fiber will create opportunities for thousands of homes and businesses that see digitalization as an opportunity for development. This is one more step by our company to lead FTTH services in Latin America.&#8221;\n<\/p>\n<p>\nThe transaction is valued at approximately $500 million and is subject to customary regulatory approvals.\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 its existing fiber optic investments in ON*NET Fibra in Chile, FiberCop in Italy, HyperOptic in the UK, and Open Dutch Fiber in the Netherlands.\n<\/p>\n<p>\nKKR is making the investment through its global infrastructure 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 with a team of more than 50 dedicated investment professionals. The firm currently oversees approximately $28 billion in infrastructure assets and has made over 45 infrastructure investments across a range of sub-sectors and geographies.\n<\/p>\n<p>\nScotiabank and Bank Street are acting as financial co-advisors to KKR on the transaction.\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=52461602&amp;newsitemid=20210716005494&amp;lan=en-US&amp;anchor=www.kkr.com&amp;index=2&amp;md5=684cca3408883c595c7602c9c3695927\">www.kkr.com<\/a> and on Twitter @KKR_Co.\n<\/p>\n<p><b>About Telef\u00f3nica Colombia<\/b><\/p>\n<p>\nTelef\u00f3nica is one of the biggest drivers of the digital economy in the country, with revenues of 5.36 trillion pesos in 2020. The activity of the company, which operates under the trademark Movistar, is mainly focused on the businesses of mobile communications and connectivity, broadband services, fiber optics to the home, paid television, fixed line communications and a complete range of digital solutions for small, medium, and large companies and corporations.\n<\/p>\n<p>\nTelef\u00f3nica is present in 50 cities and municipalities in the country with fiber optics, 210 with fixed broadband and 965 with 4G LTE mobile connectivity. Telef\u00f3nica closed 1Q21 with a customer base of 19.9 million nationwide: 16.7 million mobile lines, 1.2 million broadband customers -366,000 with fiber-, 527 thousand pay TV and 1.4 million fixed lines in service.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210716005494r1&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\/20210716005494\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210716005494\/en\/<\/a><\/span><\/p>\n<p><b>Press Contact<br \/>\n<\/b><br \/>Mariajos\u00e9 Diaz<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:mariajosediaz@dattis.com\">mariajosediaz@dattis.com<br \/>\n<\/a><br \/>+57 316 758 5298\n<\/p>\n<p>\nFor 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<\/a><\/p>\n<p>\nFor Telef\u00f3nica:<br \/>\n<br \/>Dulce Jim\u00e9nez<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:dulce.jimenez@telefonica.com\">dulce.jimenez@telefonica.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States South America Colombia North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Technology Mobile\/Wireless Telecommunications Finance 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\/20210716005494\/en\/802367\/3\/kkr-logo.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 andTelef\u00f3nica to Create Colombia\u2019s First Nationwide Open Access Fiber Optic Network Investment to accelerate ultra-fast digital connectivity to improve quality and coverage for Colombians nationwide, more than quadrupling Telef\u00f3nica\u2019s existing fiber optic network. Newly formed company to offer open access wholesale connectivity with modern fiber optic technology for all internet service providers in Colombia, including Telef\u00f3nica. KKR\u2019s large direct investment in Colombia with a transaction value of approximately $500 million affirms its long-term commitment to the region. BOGOT\u00c1, Colombia &amp; NEW YORK&#8211;(BUSINESS WIRE)&#8211; KKR, a leading global investment firm, today announced an agreement with Telef\u00f3nica Colombia, a subsidiary of the leading Spanish telecom group Telef\u00f3nica, to establish Colombia\u2019s first independent nationwide open access wholesale digital infrastructure company. On a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kkr-andtelefonica-to-create-colombias-first-nationwide-open-access-fiber-optic-network\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;KKR andTelef\u00f3nica to Create Colombia\u2019s First Nationwide Open Access Fiber Optic Network&#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-514235","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>KKR andTelef\u00f3nica to Create Colombia\u2019s First Nationwide Open Access Fiber Optic Network - 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-andtelefonica-to-create-colombias-first-nationwide-open-access-fiber-optic-network\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KKR andTelef\u00f3nica to Create Colombia\u2019s First Nationwide Open Access Fiber Optic Network - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"KKR andTelef\u00f3nica to Create Colombia\u2019s First Nationwide Open Access Fiber Optic Network Investment to accelerate ultra-fast digital connectivity to improve quality and coverage for Colombians nationwide, more than quadrupling Telef\u00f3nica\u2019s existing fiber optic network. Newly formed company to offer open access wholesale connectivity with modern fiber optic technology for all internet service providers in Colombia, including Telef\u00f3nica. KKR\u2019s large direct investment in Colombia with a transaction value of approximately $500 million affirms its long-term commitment to the region. BOGOT\u00c1, Colombia &amp; NEW YORK&#8211;(BUSINESS WIRE)&#8211; KKR, a leading global investment firm, today announced an agreement with Telef\u00f3nica Colombia, a subsidiary of the leading Spanish telecom group Telef\u00f3nica, to establish Colombia\u2019s first independent nationwide open access wholesale digital infrastructure company. 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Newly formed company to offer open access wholesale connectivity with modern fiber optic technology for all internet service providers in Colombia, including Telef\u00f3nica. KKR\u2019s large direct investment in Colombia with a transaction value of approximately $500 million affirms its long-term commitment to the region. BOGOT\u00c1, Colombia &amp; NEW YORK&#8211;(BUSINESS WIRE)&#8211; KKR, a leading global investment firm, today announced an agreement with Telef\u00f3nica Colombia, a subsidiary of the leading Spanish telecom group Telef\u00f3nica, to establish Colombia\u2019s first independent nationwide open access wholesale digital infrastructure company. 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