Macquarie, Aberdeen Standard and Daiwa-backed Onivia Acquires MasMovil Rural FTTH Network

OXIO Inc. and Newfoundland Capital Management Consortium Agrees to Acquire Movistar Mexico

April 10, 2026

Telecommunications

OXIO Inc. and Newfoundland Capital Management led a U.S.-investor consortium that agreed to acquire Movistar Mexico from Telefónica S.A. The transaction is designed to transition Movistar Mexico into a cloud-native, digitally driven next-generation telecom operator using OXIO’s Telecom-as-a-Service (TaaS) platform, while Movistar Mexico continues operating under the Movistar brand and its existing leadership team.

nexfibre (InfraVia, Liberty Global and Telefónica) to Acquire Netomnia (Substantial Group) via JV

February 18, 2026

Telecommunications

InfraVia, Liberty Global and Telefónica, through their existing joint venture nexfibre, have agreed to acquire Substantial Group (Netomnia), the UK’s second-largest alternative fibre provider. The deal is expected to unlock £3.5 billion of investment in the UK and create a scaled wholesale fibre challenger to BT Openreach, with completion expected by Q3 2026 subject to regulatory approvals.

ORANGE and MASMOVIL to combine Spanish operations in 50-50 joint venture

July 23, 2022

Telecommunications

ORANGE and MASMOVIL have signed a binding agreement to combine their Spanish businesses into a 50-50 joint venture (LORCA JVCO) based on an enterprise value of €18.6 billion (€7.8bn for ORANGE Spain and €10.9bn for MASMOVIL). The deal, backed by a €6.6bn non‑recourse debt package and expected to generate >€450m of annual synergies by year four, is subject to antitrust and regulatory approvals and is targeted to close by H2 2023, with a path to an IPO under certain conditions.

Macquarie Asset Management Acquires 40% Stake in Open Fiber from Enel

August 5, 2021

Telecommunications

Macquarie Asset Management has finalised an agreement to acquire a 40% equity interest in Open Fiber from Enel for €2.12 billion, while CDP Equity will hold the remaining 60% following Enel’s full exit. Open Fiber operates Italy’s largest FTTH network (over 12 million households passed) and the investment will support the company’s continued rollout of ultrafast broadband across Italy; completion was expected in Q4 2021 subject to regulatory approvals.

NOVA Infrastructure Acquires Majority Stake in telMAX

January 5, 2021

Telecommunications

NOVA Infrastructure, alongside Quintana Infrastructure & Development (QID), completed an investment in telMAX Inc., with NOVA acquiring a majority interest. The capital will be used to accelerate telMAX's buildout of a 100% fiber-to-the-home (FTTH) network in targeted suburban markets across the Greater Toronto Area, with first FTTH customers expected in Q2 2021.

Cinven, KKR and Providence Complete Acquisition of MASMOVIL

November 17, 2020

Telecommunications

A consortium led by funds managed or advised by Cinven, KKR and Providence Equity (through Lorca Telecom Bidco SAU) has completed the acquisition of MASMOVIL IBERCOM, S.A., acquiring approximately 99.3% of the group's outstanding shares at a valuation of about €5.3 billion. The consortium said the deal will enable MASMOVIL to accelerate its investment strategy and pursue growth and projects to strengthen its position in the Spanish telecommunications market.