Spanish utility Iberdrola has reached an agreement to assign through a right of use its excess fiber-optic network, that corresponds to 57% of Iberdrola’s total network, to wholesale fiber platform Lyntia (formerly Ufinet Spain) for a total consideration of €260 MM. Lyntia is a wholesale fiber platform with a nationwide long-haul network and fast growing dark fiber, lit fiber and FTTH businesses that was acquired by French investment firm Antin Infrastructure Partners last. Under the terms agreed, Lyntia will take over 57% of Iberdrola’s fiber network for a minimum period of 50 years, bringing its total footprint to 30,000 km, with another 5,000 km to be rolled out this year.
The transaction is subject to the approval of communications and markets regulator CNMC.
Iberdrola is a Spanish public multinational electric utility company based in Bilbao.