MásOrange, Vodafone Spain Name GIC as Fibreco Investment Partner

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The Telecos MasOrange and Vodafone Spain (ownership of Zegona) and the sovereign fund of Singapore GIC have signed on Monday an agreement to create the largest fiber optic company in Spain, with about 12 million real estate units and about 5 million customers.As reported this Monday in a joint press release, GIC, which has been chosen after a competitive process with about 20 interested investors, will have a 25% stake in this 'joint venture' or…

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The two operators sell 25% of their fiber wholesale firm, the largest in Europe, to GIC, the sovereign fund of Singapore. Masorange gets 3.2 billion and Vodafone, another 1.4 billion. Read

Business Insider (Spain)

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Vodafone Spain will enter 1.7 billion euros and maintain 17% of the capital, MoreOrange will receive 3.4 billion and control 58% of the shares.