Telefonica is reportedly close to agreeing a deal with Canadian pension fund CDPQ (Caisse de Depot et Placement du Quebec) to set up a new fibre optic broadband wholesaler in Brazil.
Bloomberg reported that the negotiations could still be delayed or abandoned despite being at an advanced stage. The proposed arrangement would see the Canadian fund take control of 50% of the new business – reportedly dubbed FiBrasil - and Telefonica Brasil splitting the remainder evenly with its sister unit Telefonica Infra.
As reported by TeleGeography, Telefonica recently agreed a similar fibre deal in Chile, signing an agreement with KKR on 22nd February to invest in FTTH provider InfraCo. Respectively, Telefonica and KKR will acquire 40% and 60% of the unit, which the agreement valued at US$1 billion.
