Macquarie Asset Management has agreed with Enel to acquire a 40% equity interest in Open Fiber, Italy’s largest fiber-to-the-home (FTTH) operator, for 2.12 billion euros. The remaining 60% equity stake is pending purchase by CDP Equity.
Open Fiber operates an open FTTH network that passes more than 12 million households in more than 180 urban centers and more than 2,300 rural municipalities across Italy. The company plans to pass more than 19 million households in the future.
“Enhancing access to reliable, ultrafast broadband is key if households and businesses across Italy are to harness the significant opportunities presented by a more connected society and economy,” says Jiri Zrust, senior managing director at Macquarie Asset Management.
Macquarie Asset Management has invested in Italy since 2002 and has supported the rollout of high-capacity digital infrastructure networks across Europe, including the United Kingdom, Denmark and Poland.
This latest transaction is targeted for completion in the fourth quarter of 2021, subject to closing conditions and necessary approvals from Italy’s Council of Ministers and the European Commission Competition Authority.
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