MasMovil offers EUR 550 mln for Yoigo - report

News Wireless Spain 25 APR 2016
MasMovil offers EUR 550 mln for Yoigo - report

Spanish operator MasMovil has offered EUR 550 million to acquire the 77 percent stake in mobile operator Yoigo owned by Telia, reports El Confidencial. The last-minute offer comes after Zegona, the investment vehicle behind regional broadband provider Telecable, failed to secure funding in time to finalise its EUR 630 million bid to acquire the stake, according to the unnamed sources cited in the report. Zegona and Telia have been in exclusive talks since 18 March but the exclusivity period expired on 22 April, opening the way for MasMovil’s final offer to acquire Spain’s fourth largest mobile operator. Telia must now decide whether to accept MasMovil's offer or give Zegona more time to secure its funding, added the report.

If confirmed, the deal would give MasMovil the national mobile network it needs to add to the fixed broadband assets it acquired from Orange last year, allowing it to launch a full convergent offer.

Categories:

Mobile

Companies:

Orange,  Telecable,  Yoigo,  Masmovil

Countries:

Spain

Tags:

Wireless, M&A buyouts & divestments

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