Global investment firm KKR agreed to acquire a majority stake in the Chilean wholesale fiber optic network of Telefonica, a global telecommunications company, for $1bn. "We are excited to be working with Telefónica to create the first-ever open access wholesale fiber network in Chile. This will create competition where none exists today, helping Chilean families, companies, and the economy recover and grow in the digital economy," Waldemar Szlezak, KKR Senior Leader.