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Telefonica looking to sell stake in Chile fiber unit – Telecompaper

Spain's Telefónica SA tapped Banco Santander SA to search for a party interested in buying a stake in its fiber optic unit Infraco in Chile, Telecompaper reported March 26, citing sources' statements to El Confidencial.

Telefonica reportedly intends to sell 50% of Infraco's shares for around €250 million to enhance its fiber deployment plans in Chile while retaining control over Infraco.