Singapore's GIC to take 25% stake in Spanish broadband venture, FT reports
GIC's investment in the company will be announced as soon as Monday, the report said, adding that its stake would be worth about 1.4 billion euros ($1.6 billion).
The deal comes after Zegona Communications (ZEG.L), opens new tab unit Vodafone Spain agreed in January to create the new fibre network company in Spain with MasOrange, with London-listed Zegona expected to hold 10% of the venture.
The parties at the time of the announcement of the deal were also looking for an investor for the new venture who was expected to hold 40% of the business.
Reuters could not immediately verify the FT report. GIC, Vodafone Spain, Zegona and MasOrange did not immediately respond to Reuters' requests for comment.
Zegona acquired Vodafone Spain in a 5 billion euro deal last year, as part of Vodafone Group's (VOD.L), opens new tab exit from its Spanish operations.
($1 = 0.8634 euros)
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