Telefonica to sell majority stake in Peru fibre network, Expansion says

The logo of Spanish Telecom company Telefonica is seen next to a traffic ligth at its headquarters in Madrid, Spain, May 12, 2021. REUTERS/Sergio Perez

MADRID, Aug 18 (Reuters) - Spanish telecom firm Telefonica (TEF.MC) is in talks to sell a controlling stake in its fibre network in Peru to U.S. buyout fund KKR (KKR.N), Expansion newspaper reported on Thursday, citing unidentified market sources.

Expansion did not provide an estimate of the stake's value.

The sale is part of the company's plan to reduce debt by selling assets and to partly fund hefty investments in infrastructure, the newspaper said.

A Telefonica spokesperson did not immediately respond to Reuters request for comment. KKR's Spanish unit did not immediately return phone calls.

Reporting by Inti Landauro; editing by Jason Neely

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