KKR to buy Telefonica Chile's fiber optic network for about $1 billion

FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid

(Reuters) – Investment firm KKR said on Monday it would acquire a majority stake in telecoms operator Telefonica Chile’s fiber optic network in a deal valued at about $1 billion.

The deal will result in the creation of Chile’s first open access wholesale digital infrastructure network, which will be open to all existing and future telecom operators in the country.

It will be controlled by KKR and Telefónica will hold a 40% stake. The transaction is expected to close in the first half of 2021, KKR said.

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