Pinwan, October 23, according to Jiemian News, Chilean telecom giant Entel said on Saturday that it will sell the assets of the fiber optic business that provides services to homes to local company ON*NET Fibra in a transaction valued at $358 million.
The deal, led by investment banks BNP Paribas, Santander and financial adviser Scotiabank, is expected to be approved by Chile’s economic regulator in the first half of 2023. Entel said in a statement that Entel and ON*NET Fibra signed an agreement that will allow Entel to continue to provide residential Internet services on ON*NET’s network.
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