Telefonica and Vodafone to form a FibreCo joint venture.

Telefonica, a Spanish multinational telecommunications company, and Vodafone, a mobile telecommunications operator, agreed to form a FibreCo, a fibre optic services, joint venture. Financial terms were not disclosed. “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.