Ufinet could be sold by Cinven for over EUR 1bn - report (translated)
06 AUG 2017
PE fund Cinven is mulling putting up Ufinet Telecom, the Spain-based telecom infrastructure company, for sale for around EUR 1bn, El Economista reported citing market sources.
Proceedings will probably start in the following weeks with the mandate to an undisclosed advisor to sound out the market, the item went on citing sources consulted by the newspaper. According to these sources, there are already several potential bidders, both from the industrial sector as well as large investment funds, El Economista pointed..
Ufinet is currently one of the world's largest fiber optic operators with over 56,500 km in 20 countries. Spain. France and Portugal are among the European countries where the company operates. LatAm market is of vital importance for the company and represents 50% of Ufinet's revenues, the Spanish-language paper said.
Cinven became Ufinet's shareholder in 2014 with a nearly EUR 510m investment, and the operator has grown between 10% and 15% in the last financial years. This growth has been both on an organic and inorganic basis. In this sense, Ufinet has acquired six companies since Cinven's entry into the company, one in Spain and the remaining five in LatAm, the item added.