Telefonica and Vodafone formed Fiberpass.

Telefonica, a Spanish multinational telecommunications company, and Vodafone, a mobile telecommunications operator, formed Fibrepass, a fibre optic services, joint venture. Financial terms were not disclosed. Telefónica Group owns a majority stake of 63% of Fiberpass (38% through Telefónica España and 25% through Telefónica Infra), and Vodafone España owns the remaining 37%. “Following the signing of the agreement of intentions in July, we are moving forward with the agreement of the definitive contracts for the creation of this FibreCo that adds value to Telefónica’s network, capturing efficiencies and contributing to the development of digitalisation for the benefit of consumers and businesses,” Emilio Gayo, Telefónica España President.