Telefónica and Vodafone are in advanced negotiations with AXA Investment Management over the sale of a roughly 30 per cent minority stake in their FTTH joint venture.

The deal would bring AXA in as a financial partner in Fiberpass, the entity the two operators launched in early 2025. Such a deal is expected to be closed before the end of September with the FTTH joint venture being valued at around €1.5 billion, reports FT.

Fiberpass began operations on March 1st, offering coverage to approximately 3.65 million premises and serving about 1.4 million customers.

Telefónica currently owns 63 per cent of the fiber company — 38 per cent through Telefónica España and another 25 per cent via Telefónica Infra — while Vodafone España holds the remaining 37 per cent. When the joint venture was first announced in 2024, both companies said they aimed to bring in a third investor to acquire around 40 per cent, with Telefónica retaining control and Vodafone España reducing its stake to roughly 10 per cent.

The venture is projected to generate an EBITDA of €125 million within three years of its launch.

The news comes just days after Vodafone España and Masorange announced the sale of a 25 per cent stake in their separate fibre joint venture to Singapore’s sovereign wealth fund GIC, in a transaction valued at around €4.6 billion.

Other posts by :

1. Bank: AST, Starlink, Kuiper targeting $200bn market
2. Rivada: Is no news good news?
3. SES celebrates Intelsat acquisition
4. Pakistan halts broadband direct-from satellite
5. India stymies Starlink launch
6. Starlink, AST SpaceMobile race for cellular consumers
7. Trouble ahoy for foreign D2D satellites over India?
8. Can Starlink disrupt the US Cellular sector?
9. Bank: “There could be more to come from EchoStar”

Categories: Articles, Broadband, FTTH

Tags: FTTH, spain, telefonica, Vodafone