MADRID—KKR, Axa, and Allianz will participate in an auction for a 49 percent stake in the fiber-optic subsidiary of Spanish grid operator Red Electrica, newspaper Expansion reported on Monday, citing unnamed sources.
The subsidiary, known as Reintel, could fetch between 1.2 billion euros and 1.3 billion euros ($1.4 billion-$1.5 billion), Expansion said, citing financial sources.
