KKR, Allianz, Axa to bid on Pink Electrica's fibre unit, Growth says By Reuters

KKR, Allianz, Axa to bid on Pink Electrica’s fibre unit, Growth says By Reuters

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© Reuters. FILE PHOTO: Buying and selling data for KKR & Co is displayed on a display on the ground of the New York Inventory Change (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid

MADRID (Reuters) – KKR, Axa and Allianz (DE:) will take part in an public sale for a 49% stake within the fibre-optic subsidiary of Spanish grid operator Pink Electrica, newspaper Growth reported on Monday, citing unnamed sources.

The subsidiary, often known as Reintel, might fetch between 1.2 billion euros and 1.3 billion euros ($1.4 billion-$1.5 billion), Growth stated, citing monetary sources.

Pink Electrica declined to remark, whereas KKR, Axa and Allianz didn’t instantly reply to requests for remark.

Reintel, which is owned by Pink Electrica, operates a community of greater than 50,000 km (31,068 miles) of fibre-optic cable laid alongside the electrical energy grid and rail community.

($1 = 0.8636 euros)

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