KKR, Allianz, Axa to bid on Red Electrica’s fibre unit, Expansion says

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Buying and selling info for KKR & Co is displayed on a display on the ground of the New York Inventory Alternate (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid

MADRID, Oct 11 (Reuters) – KKR , Axa and Allianz will take part in an public sale for a 49% stake within the fibre-optic subsidiary of Spanish grid operator Pink Electrica , newspaper Growth reported on Monday, citing unnamed sources.

The subsidiary, often called Reintel, may fetch between 1.2 billion euros and 1.3 billion euros ($1.4 billion-$1.5 billion), Growth mentioned, citing monetary sources.

Pink Electrica declined to remark, whereas KKR, Axa and Allianz didn’t instantly reply to requests for remark.

Reintel, which is owned by Pink Electrica, operates a community of greater than 50,000 km (31,068 miles) of fibre-optic cable laid alongside the electrical energy grid and rail community.

($1 = 0.8636 euros)

Reporting by Nathan Allen


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