Telefonica sells €1bn stake in rural fibre network

Telefónica Group, one of the greatest telecommunications services operators at a global scale, and the consortium Crédit Agricole Assurances (“CAA”), the first bank insurance Group in Europe, and Vauban Infrastructure Partners (“Vauban”), a leading long-term infrastructure investor, have reached an agreement to set up Bluevia Fibra, S.L. (“Bluevia”), a unique platform for the commercialization and deployment of a fibre network (FTTH) in Spain, mainly in rural areas and with limited overlap with other networks.
The consortium formed by CAA/Vauban will acquire a 45% stake in Bluevia from Telefónica España through an upfront consideration of &euro…

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