Business · Companies · 2 days ago
Telefónica and KKR put Chilean fiber company OnNet up for sale
Telefónica and US investment firm KKR have put OnNet Fibra up for sale in Chile.
KKR owns 60% of the company and Telefónica owns 40%.
OnNet runs a wholesale fiber network, meaning telecom operators use its infrastructure to provide services to customers.
Its network stretches more than 69,000 kilometers and passes 5.2 million homes across Chile.
Customers using the network include Entel, ClaroVTR, Millicom and DirecTV.
The company could be valued at $1.5 billion to $2 billion, but its debt means the amount shareholders receive would be lower.
JPMorgan and Scotiabank are advising on the sale, which is not expected to close before 2027.
The sale would leave Telefónica with no operating assets in Chile, as it continues to shift investment toward Europe and Brazil.
Telefónica and KKR have put their Chilean wholesale fiber company, OnNet Fibra, up for sale.
The company is valued at an estimated $1.5 billion to $2 billion in enterprise value, according to reports cited by both outlets.
KKR owns 60% of OnNet Fibra, while Telefónica owns the remaining 40%.
The sale is not expected to be completed until 2027.
The move would mark the exit of Telefónica’s last operating asset in Chile.
- Who
- Telefónica and KKR, the owners of OnNet Fibra.
- What
- They have put the Chilean wholesale fiber company up for sale.
- When
- The sale process was reported on October 8 and 9, 2026. Completion is not expected before 2027.
- Where
- Chile.
- Why
- Telefónica is selling Latin American assets to redirect capital and resources to priority markets in Europe and Brazil.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
OnNet Fibra began operating after Telefónica’s fixed infrastructure assets were separated and KKR acquired a 60% stake.
OnNet acquired Entel’s fiber-optic network in a deal valued at $358 million.
Telefónica announced the sale of its Chilean retail telecommunications subsidiary.
Reports said Telefónica and KKR had begun the process of selling OnNet Fibra.
The sale is expected to be completed no earlier than this year.
- Ownership
- KKR 60%; Telefónica 40%
- Estimated enterprise value
- $1.5 billion to $2 billion
- Fiber network
- More than 69,000 kilometers
- Homes passed
- 5.2 million across Chile
- Financial advisers
- JPMorgan and Scotiabank
Sources
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