MásMóvil to sell half of Euskaltel network to new fibre consortium

Spanish service provider MásMóvil’s northern Spanish cable subsidiary Euskaltel is to sell part of its access network to a consortium of investors who have committed to invest in fibre and will open the network up to third parties.

Euskaltel is selling EKT Cable, a new netco that controls about half of its access network, to a consortium of investors including Asúa Inversiones, Beraunberri, Inveready and Onchena, that is collectively known as Bidasoa Aggregator

MásMóvil said the operation would accelerate the availability of fibre across 1.2 million households in the Basque Country, Galicia and Asturias – Euskaltel’s three principal markets.

Euskaltel will become a minority investor in Bidasoa Aggregator with a 49% stake.

Euskaltel and MásMóvil will continue to operate and maintain the network and will serve as its anchor customer.

The sale will bring MásMóvil about €580 million, of which €500 million will be used to pay down debt.