In a strategic move, Finetwork has sold a significant portion of its fiber network, reaching 91,000 homes in the provinces of Alicante and Toledo, to the telecommunications operator Adamo. This agreement, valued between 15 and 17 million euros, will be used to finance Finetwork’s continued growth.
Sale Details
Finetwork had initially announced the intention to sell approximately 110,000 access units to real estate (UUII), which include homes, premises, and offices. However, the final transaction closed with the sale of just under 100,000 accesses. This agreement is part of a broader strategy to finance the cash consumption associated with the expansion of the operator’s customer base.
Finetwork CEO, Óscar Vilda, confirmed the closure of the agreement yesterday during a media meeting, although he did not reveal the buyer’s name due to a confidentiality agreement. It is known that Adamo, controlled by the French private equity fund Ardian since late 2021, is the acquiring entity.
Capital Increase and New Partners
In parallel to the sale of assets, Finetwork has announced a capital increase of 10 million euros. This move will allow the entry of a new partner, Kai Capital, into its shareholding and board of directors. Kai Capital, founded by Alfredo Pérez Fernández in 2021, will acquire a 3% stake. This transaction will reduce the participation of Pascual Pérez, founder and main shareholder of Finetwork, below 50%.
In addition to the capital increase, Kai Capital will contribute another 10 million euros as convertible debt into future capital. These 20 million euros will be used entirely to finance the company’s growth.
Future Perspectives
Finetwork is also in talks with several banking entities to secure a syndicated credit of a higher amount. Vilda indicated that the operator will need approximately 60 million euros additional to continue financing its commercial expansion.
With this sale and the new investments, Finetwork is positioned to strengthen its growth and consolidate its presence in the telecommunications market. Meanwhile, Adamo significantly expands its fiber network, enhancing its ability to offer high-quality services to more households in Spain.
Source: Expansion and Linkedin Kai.