Swedish private equity group EQT is preparing to sell Spanish operator Adamo around 5 years after it took control of the broadband provider, according to unnamed market sources cited by local business daily Cinco Dias. Adamo owns around 10,000 kilometers of cable and serves 600 localities, mostly in underserved parts of Catalonia, Madrid, Seville and Asturias.
Interested bidders cited in the report include wholesale fibre company Lyntia (formerly Ufinet Spain), which acquired the dark fibre networks of utility companies Iberdrola and Endesa in 2019, and the Onivia wholesale only FTTH brand of Australian infrastructure fund Macquarie Capital and Aberdeen Standard Investments. Other international funds, including Infravia, First State and Fiera Capital could also be interested in Adamo's assets, added the report.
Adamo is currently expanding its footprint at the rate of 25,000 homes a month, having surpassed the 1 million-home milestone, including more than 100,000 active customers, at the end of 2019. Last year it raised more than EUR 250 million in a fresh funding round and secured EUR 72 million in grants from the Spanish government to roll out FTTH networks in rural areas covering 19 provinces.
