Telefonica Espana, Vodafone Espana To Create JV For Fibre Optic Services
July 31 (Reuters) -Telefonica TEF.MC:
SAID ON TUESDAY TELEFONICA ESPANA AND VODAFONE ESPANA HAD SIGNED MEMORANDUM OF UNDERSTANDING FOR CREATION OF JOINT VENTURE FOR PROVISION OF FIBRE OPTIC SERVICES (FIBRECO)
COMPANIES ENTER INTO A PERIOD OF EXCLUSIVE NEGOTIATIONS TO AGREE ON FINAL TERMS
NEW COMPANY TO PROVIDE FIBRE OPTIC SERVICES TO TELEFONICA ESPANA AND VODAFONE ESPANA, BOTH FOR THEIR RETAIL AND WHOLESALE SERVICES
ONCE CO IS FORMED AND OPERATIONS HAVE STARTED, BOTH PARTIES INTEND TO INCORPORATE A FINANCIAL INVESTOR IN CAPITAL OF NEW ENTITY
PROPOSED TRANSACTION IS SUBJECT TO FINAL AGREEMENT OF PARTIES RELEVANT REGULATORY APPROVALS, WHICH ARE EXPECTED TO BE OBTAINED IN EARLY 2025
Further company coverage: TEF.MC
(Gdansk Newsroom)
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