Published on 07/23/2001

In three years, Ferrovial has tripled the value of its investment and obtained 40 million euros in capital gains

Ferrovial is still in the telecommunications business, focusing mainly on cable and mobile telephony

Ferrovial has sold to France Télécom its 7.6% stake that it holds in Uni2 through Editel the holding company that owns 31% of Uni2 and is owned 24.5% by Ferrovial Telecomunicaciones- after the latter reached an agreement with France Télécom. Consequently, France Télécom will increase its stake in Uni2 from 69% to 100%.

Capital gains of 40 million euros

Ferrovial has been a shareholder of Uni2 since its incorporation in 1998, when it obtained Spains third fixed telephony license.

Ferrovial has invested 22.2 million euros in Uni2 in the last three years. The sale of its stake in Uni2 plus the Wanadoo shares it received in July 2000 with the spin-off of the internet activities have enabled Ferrovial to triple the value of its investment in Uni2 to 62.5 billion euros and obtain about 40 million euros in capital gains.

Ferrovials telecommunications strategy

Ferrovials telecommunications strategy is aimed at financial investments in markets undergoing liberalization and in start-up projects.

Accordingly, Ferrovial aims to bring out the value of its current investments and actively seek new cable and mobile telephony opportunities. This strategy also includes projects that require major capital expenditure in infrastructure and projects that generate induced construction business.