GIC Buys 25% Stake in Masorange-Zegona Broadband Joint Venture

Singapore’s sovereign wealth fund GIC Pte. has agreed to buy a 25% stake in a fiber joint venture owned by Masorange SL and Vodafone Spain.

Vodafone Spain’s owner Zegona Communications Plcand Masorange made an announcement on Monday, confirming a previous Bloomberg News report. The statement did not disclose what GIC paid for the stake.

The deal marks the culmination of months of negotiations since the venture was unveiled in January. At the time, the two carriers said they would look for an investor to buy a 40% stake. The venture combines the fiber assets of the two companies, ...