Spanish fund Asterion buys Irideos in Italian connectivity deal

MILAN: Spanish investment firm Asterion said on Monday it has bought Italian digital infrastructure firm Irideos and aims to combine it with its recently acquired unit Retelit to create a connectivity provider across Italy.

Asterion said it bought 78.4% of Irideos from Italian infrastructure fund F2i. It did not disclose the value of the deal but two people close to the matter said the transaction valued Irideos at around 400 million euros ($406 million).

“Asterion aims to consolidate Retelit’s and Irideos’s position in the Italian telecom sector by merging the two highly complementary businesses,” Asterion said in a statement.