KKR and Telefónica put their Chilean 'fiberco' up for sale for up to 1.5 billion

Telefónica and KKR are selling OnNet, a Chilean fiber optic infrastructure provider. The sale, advised by JPMorgan and Scotiabank, could value OnNet at $1.5B-$2B. OnNet is 60% owned by KKR and 40% by Telefónica, formed in 2021. The sale marks Telefónica's full exit from Chile, following prior divestments.

Telefonica and KKR plan to sell their joint fibre business in Chile, OnNet Fibra, potentially raising up to EUR 1.8 billion. KKR owns 60% and Telefonica 40%. The company serves most Chilean telecom providers and covers 5.2 million homes.

Telefónica and KKR are selling Chile’s OnNet Fibra, with KKR owning 60% and Telefónica 40%. The sale could reshape their exposure to Chile’s fixed-line market and free up cash. A €1.8 billion price tag could set a valuation benchmark for Latin American digital infrastructure.

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