Monday, July 25, 2022

Telefonica establishes rural FTTP JV Bluevia Fibra

Telefonica establishes Bluevia Fibra JV:

  • Rural FTTP, wholesale
  • With Crédit Agricole Assurances & Vauban Infrastructure Partners, selling 45% stake; Telefónica España retains 30%, Telefónica Infra 25%
  • Current footprint 3.5m premises (13% of Telefonica ES network), target >5m by 2024
  • Valuation: 45% 1.021b cash, EV EUR 2.500b = 27.1x 2022E EBITDA
  • To close end 2022.


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