The Minister of Public Works, Ana Pastor, today presided over the signing of the agreement between Red Eléctrica Internacional and ADIF for the transfer of the rights to use and manage the non-rail fibre optic network and other associated assets owned by ADIF for a period of 20 years. The agreement was signed by the Chairman of Red Eléctrica, José Folgado and the President of ADIF, Gonzalo Ferre. The final transaction price has been set at 433.7 million euros.

With this award, Red Eléctrica Internacional doubles its current fibre optic network in commercial use, as it will now manage a network of 33,000 km.

This transaction will have positive results for the telecommunications industry by enabling the creation of a neutral telecommunications infrastructure operator at a nation-wide level as well as the integration of the fibre optic networks of both companies, improving the quality and performance of the services they offer.

Furthermore, it can leverage the capabilities of the Red Eléctrica Group as a benchmark operator in the telecommunications infrastructure market, extending their standards of availability and quality of service to the ADIF network.

The agreement signed today ratifies the award to Red Eléctrica Internacional of ADIF's fibre optic tender, approved by the Board of ADIF on April 25 this year, and has the authorisation of the Boards of Red Eléctrica and the Spanish anti-trust authorities.

The transaction also includes the approval by nearly all ADIF‘s clients of the subrogation of existing contracts to Red Eléctrica Internacional. The estimated annual turnover associated to the use and management of these infrastructures amounts to 65 million euros.

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