Macquarie Capital to acquire stake in MasMovil’s fibre network
Macquarie Capital and Aberdeen Standard Investments (Aberdeen) have signed an agreement with MasMovil to acquire 940,000 building units fibre-to-the-home network in Spain.
The network belonging to MasMovil Broadband, S.A.U. and MasMovil Ibercom, S.A (MasMovil), currently provides bitstream services across Madrid, Barcelona, Valencia, Seville and Malaga. MasMovil, with its strong client base in the network, will be the first major customer of the network, the company has also signed a minimum volume commitment with the new network as part of the sale of the network.
“This deal will further open up the Spanish broadband market, creating more competition amongst retailers and encouraging more people to upgrade their broadband access,” said Mark Bradshaw (pictured), head of infrastructure projects, Europe & Americas at Macquarie Capital. “By applying Macquarie’s expertise as global infrastructure developers and flexible balance sheet capital, our role will be to enable the company’s growth through the next stages of its development.”
The new entity will operate as an independent wholesaler offering capacity to internet service providers (ISPs) wanting to supply broadband to customers across these cities and metropolitan areas.
“We are delighted to support this significant investment opportunity in the Spanish fibre network,” added Gershon Cohen, global head of infrastructure at Aberdeen Standard Investments. “By investing in critical fibre projects we aim to improve business and people connectivity which should have a positive impact on the economy. It also allows us to expand our commitment to seek long term stable returns for our investors. We see significant opportunities working with our industrial and financial partners for deploying institutional capital in essential social infrastructure having made over 120 infrastructure investments globally.”
This new wholesale network will create an alternative source of fibre capacity for large operators with no infrastructure in the areas covered by the network and smaller broadband businesses. This should enable competing ISPs to reach more customers, increasing competition and price transparency in the Spanish market.
Jose Antonio Vazquez Blanco has been named as the new CEO of the business, bringing with him more than 18 years’ experience working in the Spanish telecom market for Orange, Nokia and Euskaltel.
“We are bringing the Spanish market a disruptive telecom proposal, an independent fibre operator that will create growth opportunities for traditional telecoms players and new partners coming from other ecosystems, interested in having access to a secure, flexible and first quality broadband proposal,” said Blanco.