In November 2024, the two telcos announced the creation of a JV known as FibreCo, that will cover 3.6 million premises with full fibre.
Under the JV agreement, Telefónica is the senior partner with a 63% stake in the new company and Vodafone has the remaining 37%.
"The chosen brand focuses on the value of the fibre network infrastructures as the key to a better-connected future," the partner companies say in their joint announcement.
"The motto or 'claim' of FiberCo will be 'Sharing the future together’."
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In addition, both operators announce that they have appointed Pablo Ledesma as CEO of Fiberpass.
Pablo Ledesma, a director of operations of Telefónica for seven years and a veteran with than 25 years experience at the operator, has been appointed CEO of Fiberpass.
"Fiberpass will cover approximately 3.6 million building units passed and will enable both parties to maximise the use of the current FTTH network, as well as capture efficiencies, both in the existing network and its future technological evolutions, allowing them to offer the best services to their customers," the companies say.
The Council of Ministers in Spain have approved the agreement authorising Vodafone Spain's foreign investment in the joint venture.
The remaining authorisations for full regulatory approval are expected to be received in the coming weeks.
