Entel, the largest telecom company in Chile, has announced its second significant move in as many days, announcing that it will continue to provide internet services while selling the assets of its fibre optic business. The $358 million transaction will see the company, which offers services to houses, sold to a regional firm called ON*NET Fibra. The agreement is a component of a pact that will let Entel keep providing internet connections for homes on the ON*NET network.
Additional Information on the Sell of Fibre Optics
The first wholesale fibre optic infrastructure network in Chile is deployed and run by ON*NET Fibra. This is referred to as an open and neutral network that all present and future operators can use. When KKR, a renowned international investment company, bought a 60% stake in Telefónica's fibre optic network in Chile, ON*NET Fibra was established in July 2021.
Entel said: By selling its network, rather than quitting the fixed market, they are extending coverage swiftly to deliver their internet services to the home at efficient rates and without the need to make the investments required for a fibre deployment with this coverage.
In the first half of 2023, when the merger is likely to receive approval from Chile's economic inspector. ON*NET In 2024, more than 4.3 million houses should have access to Fibra. More than 20 million people use Entel's mobile services, which it operates in Chile and Peru. Entel Corp announced last week that it intended to cooperate with communications service providers to deploy Ericsson's Private 5G solution through integration into its product line.
