Asterion Industrial Partners, an independent investment management firm focused on European infrastructure in the mid-market, has acquired Telefónica’s microwave radiolink portfolio in Spain through a carve-out process. The transaction closed on March 31.
The assets consist of a unique portfolio of antennae and radio electronic equipment for 10,800 microwave links connecting Telefónica’s mobile towers and other enterprise clients’ sites to their terrestrial fiber networks, mainly in low-density areas.
Telefónica’s radiolink network is one of the largest in Spain and is interconnected with Spain’s deepest fiber network. The portfolio provides a differentiated opportunity to access and continue to build out a rural-focused wholesale digital transport platform in Spain.
The investment is in line with Asterion’s investment strategy focused on strong downside protection through the provision of a long-term contractual agreement with Telefónica, managi
