Cinven to acquire GNFT for €510m

European private equity firm Cinven has agreed to acquire Gas Natural Fenosa Telecomunicaciones (GNFT), the fibre network operator in Spain and Latin America, from Gas Natural Fenosa (GNF) for €510m.

Thomas Railhac, principal at Cinven, said: ‘The principal growth drivers for broadband globally are cloud computing, high speed fixed and mobile access and data explosion.

‘These are driving increased demands for broadband capacity and, as a result, greater investment in fibre optic networks. Neutral carriers, like GNFT, are well positioned to capitalise on this explosion in capacity demand.’