PATRIZIA has acquired Operadora Iberica de Redes y Servicios S.L. (REDI), a fiber-to-the-home (FTTH) network owner and broadband and mobile operator in eastern Spain, doubling its Spanish fiber footprint.
Launched in 2015, REDI delivers a broad mix of telecommunications services to customers across Valencia, Alicante, Castellon and Murcia. It owns and operates an existing FTTH network in the region that reaches approximately 130,000 homes, and is undertaking an ambitious fiber-expansion plan, rolling out network coverage to more than 165,000 homes by the end of 2025.
The network rollout has been supported by approximately €15 million ($15.4 million) of government subsidies, which allow the company to deploy the network in rural areas of Castellon and Alicante that are mostly greenfield and do not have a fiber network deployed. It also provides mobile and TV services through its FTTH network and 4G/5G solutions.
PATRIZIA is investing in REDI through its Europea