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KKR, Allianz, Axa to bid on Red Electrica’s fibre unit, Expansion says By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid

MADRID (Reuters). KKR (Axa), Allianz and Allianz will be participating in an auction to acquire a 49% interest in the fibreoptic subsidiary Spanish grid operator Red Electrica. Expansion, citing unnamed source, reported this Monday.

Expansion claimed that Reintel could be sold for between 1.2 and 1.3 billion Euros ($1.4 billion to $1.5 billion), citing financial sources.

Red Electrica did not comment. KKR and Axa, as well as Allianz, didn’t immediately reply to our requests.

Red Electrica’s Reintel owns a fibre-optic network covering more than 50.000 km (31.068 miles) along the rail and electricity networks.

($1 = 0.8636 euros)

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