Infrastructure

Accelerating the Spanish government’s broadband ambitions

Macquarie Capital led the acquisition of a fibre-to-the-home (FTTH) network connecting one million homes to create Onivia, Spain’s first independent fibre network operator.

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Sector	Infrastructure
Sub-sector	Technology
Location	Spain

Opportunity

The Spanish government recently presented its ‘Spain Digital 2025’ agenda, which outlines plans to accelerate the country’s digital transformation in alignment with the EU’s connectivity objectives.

Among its strategic priorities are extending ultrafast broadband coverage to the entire Spanish population and preparing its networks for 5G, thus closing the digital gap between urban and rural communities.

The government has set an ambitious target of 100 per cent of the population to have access to internet speeds in excess of 100 Mbps by 2025¹.

It comes as demand for reliable ultrafast broadband in Spain is expected to grow significantly over the next few years as changing working practices lead to more remote working.

Approach

In 2019, Macquarie Capital led the acquisition of a fibre-to-the-home (FTTH) network connecting one million homes from MasMovil to create Onivia, Spain’s first independent fibre network operator.

Onivia doubled in size in 2021, following the acquisition of a majority stake in a rural FTTH business. The scale of the combined network provided Onivia with greater national presence.

In 2022, Macquarie Capital brought onboard long-term investor Arjun Infrastructure Partners to support plans to continue to grow and expand Onivia’s network across Spain.

The establishment of Onivia created a wholesale only fibre network which can deliver more flexible, secure broadband for both large and small internet service providers in Spain.

Outcome

Onivia’s network initially covered Spain’s five largest cities (Madrid, Barcelona, Valencia, Seville and Malaga), but its expansion has seen it become a truly national network, enabling consumers in more remote parts of Spain to also benefit from access to reliable ultrafast broadband.

The introduction of an independent wholesale fibre operator in Spain provides a more flexible and secure broadband bitstream service for both large and small internet service providers (ISPs). It increases the competition and price transparency in the market and connects people and businesses in more remote parts of the country, helping to drive economic recovery.

1st

Spain’s first independent fibre network operator

5+

Serving Spain’s five largest cities and expanding

100%

Helping achieve 100 per cent population connectivity by 2025¹

Macquarie Capital saw an opportunity to create Spain’s first independent wholesale FTTH network which has proven to be a game changer for the Spanish fibre market, helping both large and small internet service providers offer greater choice and better service to end users in both urban and rural areas alike.”

Oliver Bradley
Managing Director, Digital Infrastructure Investing, Macquarie Capital

1. European Commission: Shaping Europe’s digital future: Broadband in Spain

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Macquarie Capital

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