Singapore’s GIC Leads Bidding for Stake in Spanish Broadband Joint Venture
Singapore's sovereign wealth fund, GIC Pte, is reportedly the frontrunner to acquire a substantial minority stake in a Spanish fiber-optic broadband joint venture. The venture is owned by MasOrange SL and Zegona Communications Plc, two major players in the Spanish telecommunications market. The deal, if finalized, would give GIC a significant position in the growing Spanish broadband market, which has seen increased demand for high-speed internet services. The transaction is still in the negotiation stage, and the final details, including the size of the stake and the purchase price, have not been disclosed. The move by GIC, one of the world's largest sovereign wealth funds, reflects the increasing interest in the European telecommunications sector, particularly in the area of fiber-optic infrastructure, which is seen as a vital component of the region's digital transformation.
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