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KKR exits Spanish subsea operator as Telefónica takes back control
The operator sold the stake in 2017 for more than $1.3 billion to KKR but as the subsea ecosystem enjoys a 7.1% CAGR to 2027, current and future data demand seems to prove to be good reason enough for Telefónica wanting more stock.
By João Marques Lima
Founder and Editor, The Tech Capital
5 Mins
February 03, 2022 | 12:19 AM GMT
Telefónica's chairman José María Álvarez-Pallete, who has also recently been elected as the new Chairman of the Board of the GSMA, the association of the world’s largest telecommunications groups and smaller independent operators. Source: Telefónica
Spanish telecom giant Telefónica (BME: TEF) and real estate firm Pontegadea said they have entered into an agreement to buy a 40% stake in submarine cables operator Telxius Telecom, previously held by US investment firm Kohlberg Kravis Roberts & Co. L.P. (KKR) (NYSE: KKR).
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