Singapore's sovereign wealth fund GIC will acquire a 25% stake in a Spanish fibre optic broadband venture between MasOrange and Vodafone Spain, the three companies said on Monday, helping GIC to boost its presence in a key European telecom market.

Telecoms operators MasOrange and Vodafone Spain had anticipated selling a larger stake to an external investor

GIC is negotiating for a potential 20 per cent to 30 per cent stake, according to sources. Read more at straitstimes.com. Read more at straitstimes.com.

Singapore's sovereign wealth fund GIC will acquire a 25% stake in a fibre optic broadband venture between MasOrange, partly owned by France's Orange, and Vodafone Spain, which is owned by Britain's Zegona Communications,

Singapore's GIC is set to invest 1.4 billion euros for a 25% stake in a new fibre optic broadband venture with MasOrange and Vodafone Spain, marking a significant move in the Spanish telecommunications market.