Telefónica and Vodafone Spain already have everything ready to create a fiber joint venture

Telefónica de España and Vodafone Spain They already have all the fringes of the agreement to create a fiber joint venture closed, just over a year after negotiations began. This joint venture will allow both to share the FTTH network in the country. Telefónica will own 63% of it, and Vodafone Spain, the remaining 37%.

This company will serve approximately 3.6 million real estate units, and will make it possible for both parties to optimize the use of the current fiber network. Also improve efficiency, both of the network that currently exists, and of that resulting from applying technological innovations in the future.

This new company will provide fiber optic service to both companies, both for their retail and wholesale services. When it is established, it is estimated that it will have approximately 1.4 million clients. That is, it will have a penetration level of close to 40%.

This agreement, for now, is a proposal that must be evaluated by the authorities in charge of issuing the applicable regulatory authorizations. If everything goes as planned by both parties, they will get them at the beginning of 2025.

However, Telefónica and Vodafone Spain will not be the only members of the company, because when it is already established and begins operations, both want to incorporate a third investor in the company’s capital. Of course, Telefónica will continue to maintain the majority of its shares.

He President of Telefónica Spain, Emilio Gayorecalled that «After the signing of the agreement of intent in July, we moved forward with the agreement of the definitive contracts for the creation of this FibreCo that values ​​the Telefónica network, with the capture of efficiencies and the contribution to the development of digitalization for the benefit of consumers and companies”.

As for the head of Vodafone Spain, José Miguel Garcíahas commented on this agreement: «It is a relevant milestone in our plan, since it will guarantee our clients access to fiber optic networks and better service.”.