Spain’s MasMovil sells majority stake in rural fibre network for $468 mln

MADRID: Spanish telecom firm MasMovil sold a majority stake in its fibre optic network covering 1.1 million rural homes across Spain to independent operator Onivia, a spokeswoman for Onivia said on Wednesday.

Onivia’s owners – the funds Macquarie, Aberdeen and Daiwa – have bought a 51% stake in MasMovil’s fibre-to-the-home network (FTTH), which includes over a thousand municipalities with fewer than 25,000 inhabitants, for 390 million euros ($467.77 million), a source close to the deal said.