Telefónica’s sale of its Peruvian fiber business to KKR has fallen through.
The carrier had announced a deal to sell its stake in its fiber optic network to KKR last year for about €550 million, including debt.
However, as reported by Reuters, regulator Entel confirmed in a filing last week that the deal was off.
Telefónica said it remains in talks with Entel and KKR over a potential sale.
The deal was first announced in July 2023, when Telefónica agreed to sell a 54 percent stake in its fiber network to KKR and a 10 percent stake to Entel.
According to Reuters, the deal fell through "due to the breach of certain closing conditions," although the conditions were not specified.
Another publication, Cinco Dias, reports that Telefónica chose to terminate the deal.
The carrier has been looking to sell some of its assets in order to reduce debt and fund its 5G mobile network buildout.
