Searchlight Capital acquires 49% stake in Italy's Eolo

Italian fixed-wireless broadband provider Eolo announced an agreement to sell a 49 percent stake in its business to private investment firm Searchlight Capital Partners. Eolo founder Luca Spada will continue to serve as CEO and retain a 51 percent stake in the company together with the Elmec Group. In a statement, Eolo said the proceeds of the deal will be used to help fund the company’s EUR 300 million 2018-20 investment plan, including the project to roll out a fixed-wireless network based on 5G technologies to over 7 million homes and businesses throughout the country.

Eolo previously announced plans to become the first provider of 100 Mbps fixed wireless services in digital divide areas all over Italy. The company currently has over 300,000 customers in more than 5,200 localities, many of them with fewer than 20,000 inhabitants.