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Singapore’s GIC to buy 25% stake in Spanish broadband JV, FT reports

AuthorAyushman Ojha
Published 04/08/2025, 04:20
© Reuters.
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Investing.com-- Singapore’s sovereign wealth fund GIC is set to acquire a 25% stake in a fibre-optic broadband joint venture between MasOrange and Vodafone Spain (LON:VOD), the Financial Times reported on Sunday, citing people familiar with the matter.

GIC’s investment, worth about €1.4 billion, is expected to be announced as early as Monday, the FT report said. The joint venture will serve 12 million premises, making it one of the largest fibre infrastructure companies in Europe, it added.

MasOrange, Spain’s biggest mobile operator formed by the 2022 merger of Orange España and MásMóvil, will hold 58% of the company. Vodafone (NASDAQ:VOD) Spain, owned by Zegona Communications, will retain a 17% stake, the report said.

MasOrange plans to use proceeds from the deal to reduce debt, while Vodafone Spain will focus on deleveraging and shareholder returns, the report added.

The Spanish telecoms sector remains highly competitive, with firms racing to expand networks and secure market share.

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