Global asset manager Macquarie announced it has finalised an agreement with Enel to acquire a 40 per cent equity interest in Open Fiber for €2.12 billion.
Open Fiber operates Italy’s largest fibre-to-the-home network, with more than 12 million households passed in more than 180 urban centres and more than 2,300 rural municipalities across the country. Open Fiber is also leading the roll out of ultrafast broadband throughout Italy, aiming to pass more than 19 million households with its wholesale-only network, the company said in its release.
Macquarie Asset Management will partner with CDP Equity which will own the remaining 60 per cent equity interest in Open Fiber following the completion of the sale of Enel’s entire stake in the business.
Jiri Zrust, Senior Managing Director at Macquarie Asset Management, said: “Enhancing access to reliable, ultrafast broadband is key if households and businesses across Italy are to harness the significant opportunities presented by a more connected society and economy. We look forward to supporting the delivery of Italy’s next-generation digital infrastructure through our investment in Open Fiber, partnering with its talented workforce and CDP Equity to deliver first class, open-access network infrastructure across Italy.”
Macquarie Asset Management is investing to support the roll out of high-capacity digital infrastructure networks around the world. In Europe, its managed funds are increasing ultrafast broadband connectivity across the United Kingdom, Denmark, and Poland through investments in KCOM, TDC Group, and INEA, the company said.
Macquarie Asset Management has been investing in Italy since 2002. During that time, Macquarie-managed funds have supported the development and long-term operation of infrastructure essential to the Italian economy through investments in Hydro Dolomiti Energia, Società Gasdotti Italia, Renvico, and Aeroporti di Roma. In June, Macquarie-managed funds agreed to acquire 88% of Autostrade per l’Italia in a consortium with CDP Equity and Blackstone Infrastructure Partners.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.