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

According to Nasdaq news, 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.

It is not sure whether this transaction includes Telefonica's subsea cable assets in Chile, owned and operated by its subsidiary Telxius.

Telxius has its private SAm-1 cable system landing in Valparaíso, Chile. Telxius and América Móvil are co-building the Pacific cable system connecting Valparaíso (Chile) to Puerto San José (Guatemala), with additional landing points in Salinas (Ecuador), Lurín (Peru) and Arica (Chile).