Avatel Telecom to buy Lyntia Acess

Spain’s fifth largest telco Avatel Telecom is set to acquire 100% of the FTTH wholesale operator Lyntia Acess for €1 billion.

Quoting Bloomberg, El Economista reports that Lyntia Acess is currently owned by the French fund Antin Infrastructure and the transaction is expected to be concluded in the fourth quarter following all necessary regulatory requirements.

It adds that earlier this year Antin tried to sell Lyntia for around €2 billion. This is now being done in two stages, with the sale of a 33.3% stake in Lyntia to the fund Morrison & Co having been agreed in late July.

Following the acquisition of Lyntia, Avatel Telecom will have a 43,000km fibre network.

Broadband TV News notes that Avatel Telecom has a presence in Spain’s TV market, operating a service known as CLICtv.

from Broadband TV News https://ift.tt/A6EZukz