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Broadband

Spain's Abengoa sells telecom unit Abentel to Ericsson

Wednesday 6 July 2016 | 11:41 CET | News
Spanish energy and technology conglomerate Abengoa has announced the sale of its telecommunications subsidiary Abentel to Ericsson for an undisclosed amount. Under the terms of the deal, all of Abentel's assets, projects and employees will be transferred to Ericsson, said Abengoa, adding that around 500 professionals specialised in fibre networks will join the Swedish company. The deal will allow Ericsson to enter the fixed broadband access market in Spain, competing with Cisco, Nokia and Huawei. The transaction is set to close during in third quarter of the year.

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Categories: Fixed
Companies: Abentel
Countries: Spain
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