New Street: LILA (Buy, TP: $15, +100%) ENTEL CI (Buy, CLP4,300, +30%) Chilean Consolidation - Moving (slowly) to Market Repair
Expansión newspaper in Chile is reporting that Entel is selling its FTTH infrastructure (~1m HPs) to the local Telefonica / KKR JV. Following the Liberty LA / AMX deal, this would be the second major infra consolidation in a market crying out for repair; we update our map of fixed infrastructure deployment in Chile in this short note and suspect the market will likely coalesce around three infra providers (seven historically).Empresa Nacional de Telecomunicaciones is engaged in the provision of telecommunication services. Services provided include local, domestic and international long-distance calls, international direct dialing, international directory assistance, international business toll-free service, mobile maritime service via satellite, video conference, international telephone cards, bank credit cards, collect calls, television and radio transmission services, and private corporate networks through a digital network offering voice, data, fax, image and internet services.
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