Link Securities | Telefónica (TEF) and Vodafone Spain, a company wholly owned by British financial group Zegona (ZEG-GB), have obtained the green light from the European Commission (EC) for the French financial group AXA (CS-FR) to acquire a stake in Fiberpass, the wholesale fibre optic company (fiberco) created from the networks and broadband customers of the two operators, according to Expansión newspaper.
In fact, the European Commission stated in a resolution on 13 February that the acquisition by AXA (CS-FR) of a 40% stake in FiberPass, announced on 24 November 2025, is not subject to the notification requirements set out in the merger regulation and can be completed. It is expected that, following this procedure, the transaction will be completed before the end of March 2026.
