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HomeLatest NewsAvatel acquires Lynthia Access to connect fiber to four million homes

Avatel acquires Lynthia Access to connect fiber to four million homes

Date: October 2, 2022 Time: 18:42:24

Avatel buys Lyntia Access for 1 billion euros. Telecommunications company Avatel Telecom has formalized its intention to acquire 100% of Lyntia Access, the neutral operator of the Spanish wholesale telecommunications market, with the French Anti Infrastructure Partners fund, for about 1 billion euros. According to information provided by Bloomberg and confirmed to Efe by market sources, the operation subject to the usual approvals and its closure is scheduled for the last quarter of 2022.

Financial structures Lazard and Banco Santander, as well as Antin, Deutsche Bank and UBS were involved in the operation. With this acquisition, Avatel, which declined to comment on the transaction, will cover about four million households with Fiber Optic Access (UIS) by adding the Lyntia Access network, which has over 260,000 accesses and another 360,000 in deployment, created in alliance with the telecom company itself.

Last March, Avatel created Avatel Access to connect its fiber-optic home access (FTTH) networks in rural areas, as well as the networks of carriers with which it has agreements. At that time, Avatel Access had already covered more than 1.5 million homes. in rural areas have already been deployed and acquired, In addition to the additional million generated by the process of buying local carriers in which it is immersed, and new Avatel own networks, the company explains.

The operation was closed at the time intensive activity in the fiber segment in Spain, after the Antin Foundation itself sold Lyntia Networks, the company from which Lyntia Access was spun off in 2021, to Axa IM Alts and Swiss Life Asset Managers a few weeks ago. As a result, both firms sold a 33% stake in Lyntia Networks to HRL Morrison last week. Also, just a week ago Telefónica closed the agreement to sell 45% of Bluevia, its rural fiber subsidiary to a consortium formed by Vauban Infrastructure Partners and Crédit Agricol for $1,021 million.

Source: www.lainformacion.com

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