CapMan Infra is selling its 60% stake in Finnish fibre-to-the-home company Valokuitunen to Brookfield Asset Management’s debut middle-market infrastructure fund and Telia.
Telecommunications firm Telia said it will pay approximately €30m to increase its ownership in Valokuitunen from 40% to 49%. The Brookfield Infrastructure Structured Solutions fund will hold the remaining stake in the business.
CapMan Nordic Infrastructure I (CMNI I) established Valokuitunen with Telia in April 2020 to accelerate the roll-out of FTTH connectivity in Finland. Valokuitunen’s network now reaches more than 400,000 homes in over 100 municipalities through an open-access model hosting multiple service providers, including Telia.
Harri Halonen, partner at CapMan Infra, said: “Valokuitunen has successfully grown into Finland’s leading fibre‑to‑the‑home infrastructure platform. “Together with Telia and Valokuitunen’s management team, we have built a strong organisation, with industry-leading commercial and operational capabilities, and significantly expanded the network to both create and meet increasing fibre demand across the country.”
Heikki Kaunisto, Valokuitunen’s CEO, said: “CapMan Infra, together with Telia, built a strong foundation for Valokuitunen, enabling the company to grow and rise to become the market leader in Finland’s FTTH sector.
“This transaction demonstrates that CapMan’s clear vision of the opportunities in the Finnish fibre market, along with the strategic partnership built with Telia, was key to success.”
The deal builds on a long-standing collaboration between Telia and Brookfield, following their 2021 agreement where Brookfield and Alecta purchased an interest in Telia’s tower operations in Finland and Norway.
Patrik Hofbauer, president and CEO, Telia, said: “Starting with just 20,000 households, Valokuitunen has built both a nationwide fibre network and a market-leading position in only a few years.
“Increasing Telia’s ownership is in line with our strategy to invest in our core, and shows our long-term commitment to taking Finland’s world-class digital infrastructure to the next level. We look forward to working with Brookfield, whom we know well from our successful Telia Towers partnership, and Valokuitunen’s dedicated management team to realise our high ambitions.”
Ian Simes, managing partner and co-head of Brookfield Infrastructure Structured Solutions, said: “We are pleased to build on our successful partnership with Telia through this investment in Valokuitunen, further strengthening our collaboration in the digital infrastructure sector across the Nordics.
“Valokuitunen has established a strong position in Finland’s fibre market, supported by a high-quality network, an open-access model and an experienced management team, and we look forward to supporting its continued growth over the long term.”
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