28th Feb 2025 12:08
(Alliance News) - Telefonica SA on Friday said it has started a new joint company to commercialise the fibre to the home network with Vodafone ONO SAU, known as Vodafone Spain.
The Madrid-based telecommunications company said the partnership between Telefonica Espana and Vodafone Spain will provide retail and wholesale broadband access services.
Telefonica said the transaction has now been completed following regulatory authorisation.
The new joint company is called Compania Mayorista de Fibra SL.
It will start operations on Saturday, with a network covering almost 3.7 million premises, around 12% of Telefonica Espana's national network.
Telefonica said it estimates the company will initially have 1.4 million clients, which implies a penetration level of around 38%.
Telefonica will hold 63% of the company, with Vodafone Spain holding the remaining 37%.
Vodafone Spain was bought by Zegona from Vodafone Group PLC in May 2024.
Shares in Telefonica were down 0.9% to EUR4.28 in Madrid on Friday afternoon. Zegona Communications was flat at 565.00 pence in London.
By Michael Hennessey, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Zegona ComVodafone