Telefonica SA and Zegona Communications Plc’s Spanish unit are set to receive non-binding offers for a stake in their fiber broadband unit, the first major deal process since the government replaced Telefonica’s executive chairman, according to people familiar with the matter.
Bids are expected as soon as today, with AXA SA, private equity firm Vauban Infrastructure Partners and billionaire Amancio Ortega’s family office Pontegadea Inversiones SL having expressed interest in acquiring the minority stake, according to people familiar with the matter. Telefonica and Zegona are seeking to sell a 40% stake for about €800 million ($832 million), according ...
