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Telefónica Colombia will manage the main neutral fiber optic network

EFE | THE COUNTRY | Bogota

Telefónica Colombia and the US investment firm KKR announced on Wednesday the closing of the transaction by which they create a company that will manage the main home-neutral fiber optic network (FTTH) in the Andean country.

The new independent company, from which all market operators can benefit and which is valued at 500 million dollars, was announced in July 2021 and has already received authorization from the Colombian regulatory authorities, the Spanish company said in a statement.

“Telefónica Colombia will maintain a 40% stake in the new company, whose purpose is to bring the advantages of fiber optics to some 90 cities in the country in the next three years, with a network that will cover 4.3 million Past Real Estate Units ( UIP), “the company said.

The partnership created by Telefónica and KKR will operate as a neutral wholesale company, prepared to operate and accelerate local fiber optic network deployments, as well as offer wholesale access for the FTTH business to all telecommunications service providers in Colombia.

“Thanks to this, we will be able to accelerate the expansion of our fiber optic network in the country and consolidate ourselves as the operator that leads not only the deployment of this technology, but also the offer of the highest connection speeds for homes and companies,” said the President of Telefónica Colombia, Fabián Hernández.

The executive director of Telefónica Hispanoamérica, Alfonso Gómez Palacio, highlighted that the operation was completed in just six months and that “with the new company the market will have a very vibrant year in the expansion of fiber optic networks, which Movistar will undoubtedly take advantage of Colombia to continue leading the connection speed for homes and companies “.

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