ON*NET Fibra Chile

ON*NET Fibra is Chile's pioneering open-access, neutral wholesale fiber optic infrastructure company, launched in July 2021 as a joint venture between KKR (60%) and Telefónica Chile (40%). The company deploys and operates ultra-broadband fixed fiber infrastructure available to all current and future telecommunications operators in Chile on equal terms, with the mission to eliminate the digital divide and accelerate the country's digitalization. Starting with 1.2 million homes passed at inception, ON*NET Fibra grew rapidly through organic expansion and a landmark 2022 acquisition of Entel Chile's fiber optic assets for USD 358 million — clearing regulatory approval in late 2023 — which extended coverage toward 4.3 million homes passed across all 15 regions of Chile from Arica to Porvenir. The network's open-access model fosters greater market competition, reduces connectivity costs for families and SMEs, and supports nationwide 5G rollout. In 2023, KKR also replicated the model in Peru through a separate ON*NET Fibra de Perú venture. Telefónica announced intentions to divest its 40% stake in 2026.