Asterion agrees sale of LineoX to Telefónica, completing the transformation of a leading rural connectivity platform in Spain

  • Since its carve-out from Telefónica in 2020, LineoX has evolved into one of Spain’s leading rural microwave backhaul platforms.
  • The exit demonstrates Asterion’s ability to create value through active ownership and long-term infrastructure development.
  • The transaction reflects both the successful development of LineoX under Asterion’s ownership and its long-standing relationship with Telefónica.

Madrid, 1 June 2026 – Asterion Industrial Partners, an independent investment management firm focused on European mid-market infrastructure, has reached an agreement to sell LineoX to Telefónica, marking the successful completion of a six-year investment period during which the company was transformed into a leading rural telecommunications infrastructure platform in Spain.

 

LineoX operates one of Spain’s leading rural microwave radio link networks, providing critical backhauling infrastructure for mobile connectivity, particularly in rural and less densely populated areas.

 

Asterion acquired the underlying portfolio of microwave radio links from Telefónica in 2020 through a carve-out transaction. Since then, Asterion has developed LineoX as a fully independent infrastructure platform and integrated it into a broader wholesale telecommunications group alongside Axión, spanning radio links, towers, broadcasting and fibre transport.

 

rural telecom infrastructure

 

Throughout this period, Telefónica has remained a key partner and anchor client of LineoX, reflecting a long-standing industrial relationship focused on network performance, service continuity and reliability.

 

The transaction also reflects the strength of the long-standing industrial partnership between Asterion and Telefónica. Since 2020, Asterion has successfully developed LineoX as a specialised rural backhauling platform, ensuring operational excellence, service continuity and a robust industrial footprint across Spain’s infrastructure.