After several weeks offering details about how it would be His joint company of fiber, telephone and Vodafone Spain have officially presented it at last. It will be called Fiberpassand as both groups already advanced two weeks ago, at the head of it will be as CEO Pablo Ledesmawhich until now has held the position of director of Operations of Telefónica España for seven years.
Ledesma, which has more than a quarter of a century of experience in different positions in Telefónica, will therefore take the reins of the company, whose brand is focused “on the value of fiber network infrastructure as a key to a better connected future ».
Fiberpass, which will have as a motto “sharing the future together”, will cover approximately 3.6 million real estate units. Its launch will allow both Telefónica and Vodafone in Spain to maximize the use of the existing FTTH network. It will also allow to improve in efficiency, both of the current network and the future evolutions it has in terms of technology.
Despite having already been officially presented, Fiberpass’s definitive implementation is still pending to achieve all relevant regulatory authorizations, although it is already moving towards it.
Thus, for example, last Tuesday the Council of Ministers approved the agreement with which the foreign investment of Vodafone Spain is authorized in this joint society. The rest of authorizations that are missing to complete the procedure to follow will be ready in the coming weeks, if all forecasts are met.
The creation of Fiberpass was closed last November, and currently telephone has 63% of its actions, while Vodafone Spain has the remaining 37%. But this distribution of titles can change in the future, since Both parties have expressed their intention to seek a third enterprise who wants to enter Fiberpass’s shareholders and keep 40% of the total. Then Vodafone would retain 10% of the shares, and Telefónica would continue to be his main shareholder, so he would have his control.
