Spain’s Telefónica has sold its ADSL network to the Australian Fund Macquarie for €200 million as a way to reduce debt and shed an ‘obsolete technology’.
The telco group has been deploying optic fibre to replace the former ADSL networks, so far reaching 4.8 million connections versus 1.1 million ADSL. Telefónica plans to fully abandon copper by 2025.
In the first half of last year, Telefónica closed down 1,000 copper sites, representing 65,000 tonnes of copper.
With the move Macquarie, major shareholder in cable operator Onivia with 2.1 million cable homes, agrees to convert it into optic fibre.