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UPDATE 1-KKR to buy Telefonica Chile's fiber optic network for about $1 billion

·1 min read

(Adds details on the deal)

Feb 22 (Reuters) - Investment firm KKR said on Monday itwould acquire a majority stake in telecoms operator TelefonicaChile's fiber optic network in a deal valued at about $1billion.

The deal will result in the creation of Chile's first openaccess wholesale digital infrastructure network, which will beopen to all existing and future telecom operators in thecountry.

It will be controlled by KKR and Telefónica will hold a 40%stake. The transaction is expected to close in the first half of2021, KKR said.(Reporting by Eva Mathews in Bengaluru; Editing by Arun Koyyur)