Zegona offers over EUR 500 mln for Yoigo - report

News Wireless Spain 14 MRT 2016
Zegona offers over EUR 500 mln for Yoigo - report

UK-based investment fund Zegona has offered over EUR 500 million for the 77 percent stake in Spanish mobile operator Yoigo owned by TeliaSonera, according to unnamed sources cited by business daily Expansion. The bid is some EUR 60-65 million higher than that offered by Spanish operator MasMovil, added the sources, after both companies responded to an invitation from TeliaSonera to bid for its controlling stake in Spain’s fourth largest mobile operator.

Zegona, an investment vehicle set up by former Virgin Media finance director Eamonn O'Hare, last year acquired regional broadband operator Telecable for an enterprise value of EUR 640 million, while MasMovil is looking to acquire a national mobile network. TeliaSonera appears ready to divest its stake in Yoigo after giving up on plans to raise EUR 1 billion from the sale of the unit back in 2012. 

Categories:

Mobile

Companies:

Telia,  Telecable,  Yoigo,  Masmovil

Countries:

Spain

Tags:

Shareholders & subsidiaries, Wireless, Wholesale, M&A buyouts & divestments

Related Articles

SPAIN 20 JUN 2016

Zegona pushing ahead with plans to buy Spain's Yoigo

Telecable owner Zegona announced that it has reached an agreement with Telia to acquire its 77 percent stake in Yoigo but still lacks the approval of the Spanish mobile operator's smaller shareholders before a sale can be closed. It has also learned that another bidder has offered a higher price for Telia's stake. Zegona is an investment vehicle set up by former Virgin Media finance director Eamonn O'Hare, which last year acquired regional broadband operator Telecable and has been in talks to acquire Yoigo

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 Ap

SPAIN 20 APR 2016

Yoigo Q1 service revenues up 2.8% on strong data demand

Spanish mobile operator Yoigo reported a 9.8 percent rise in net sales to the equivalent of SEK 2.03 billion in the first quarter, consolidating the previous quarter's growth following several quarters of declining sales. Service revenues were up 2.8 percent in local currency to SEK 1.45 billion in the January to March period, boosted by an increased number of higher ARPU postpaid customers and a strong demand for data, as confirmed by the continuing popularity of its Sinfin (Unlimited) tariff, which offers

SPAIN 21 MRT 2016

Zegona confirms exclusive talks to buy Yoigo

UK-based investment fund Zegona has confirmed it's in exclusive talks to acquire the mobile operator Yoigo from TeliaSonera. TeliaSonera also confirmed the talks but did not provide further details on the potential divestment. Earlier reports suggested Zegona was offering around EUR 500  million for Spain's smallest mobile operator. Zegona is an investment vehicle set up by former Virgin Media finance director Eamonn O'Hare. Last year it acquired regional broadband operator Telecable.

SPAIN 9 MRT 2016

Orange leads Spain mobile portability figures in February

Orange continued to lead Spain's monthly mobile portability figures in February, adding 12,400 lines thanks to the contribution of recently-acquired operator Jazztel and its low-cost brands Amena and Simyo. The monthly portability figures published by website Xataka Movil also revealed that Vodafone (plus its brands Ono and Lowi) increased its monthly net gains from 3,400 in January to 8,750 in February. Spain's fourth-largest operator Yoigo attracted 6,150 lines, far below the previous month's 18,800 gain.

SPAIN 8 MRT 2016

Zegona revenues up 2.7% in 2015 as Telecable grows in Q4

Zegona, an investment vehicle set up by former Virgin Media finance director Eamonn O'Hare, which last year acquired Spanish broadband operator Telecable for EUR 640 million, reported full-year revenues up 2.7 percent year-on-year to EUR 134.4 million in 2015. The company's EBITDA increased by 3.3 percent to EUR 65.0 million, driven by Telecable's 5.0 percent revenue growth in the fourth quarter of the year, its highest in five years. Zegona said it was looking to build on Telecable's Q4 performance, target

SPAIN 7 MRT 2016

Zegona, MasMovil preparing Yoigo bids - report

Spanish operator MasMovil and Zegona, the investment vehicle behind regional broadband provider Telecable, are preparing bids to acquire the 77 percent stake in Spanish mobile operator Yoigo owned by TeliaSonera, reports business daily Expansion. TeliaSonera sought as much as EUR 1 billion for its controlling stake in Yoigo back in 2012, but is now prepared to accept half that amount due to its unsuccessful attempts to launch a convergent Fusion-branded offer, said the report. After nine years of activity i

SPAIN 26 FEB 2016

TeliaSonera preparing EUR 600 mln Yoigo sale - report

TeliaSonera has signed up Deutsche Bank to prepare the sale of its 77 percent stake in Spanish mobile unit Yoigo, according to unnamed sources cited by business daily Expansion. The report adds that TeliaSonera expects to receive bids of around EUR 600 million in the coming weeks, with rival operator Masmovil Ibercom and Zegona, the investment vehicle that last year acquired regional broadband operator Telecable, said to be most interested in Spain's number four operator. After nine years of activity in Spa

SPAIN 24 FEB 2016

Yoigo to expand 4G coverage to 90% of Catalonia

Spanish mobile operator Yoigo has announced plans to expand its 4G network to practically all of Catalonia in the coming months. Coinciding with the Mobile World Congress in the Catalan capital of Barcelona, the country's fourth largest mobile operator confirmed that it will accelerate its 4G rollout in the region to expand coverage from the current figure of 60 percent to 87 percent by mid-2016, reaching over 90 percent in the main cities.

SPAIN 6 JAN 2016

Yoigo to stop selling Fusion fixed services

Spanish operator Yoigo is withdrawing from the fixed market. In a notice on its website, the TeliaSonera subsidiary said it will no longer sell the 'Fusion' fixed-mobile plans from 31 January. Existing customers can continue with the service under the same conditions. The 'Fusion' converged offers have been the main battleground on the Spanish market in recent years, but Yoigo has struggled to compete as it relies on wholesale access to Movistar's fixed network, making it difficult to differentiate. 

SPAIN 13 NOV 2015

Telecable owners interested in acquiring Yoigo - report

Zegona, an investment vehicle set up by former Virgin Media finance director Eamonn O'Hare, is planning to further expand its presence in the Spanish telecoms market by bidding for TeliaSonera's Spanish subsidiary Yoigo, according to unnamed sources cited by business daily Expansion. Yoigo is currently Spain's fourth mobile network operator with a share of just over 6 percent of total service revenues and would be valued at between EUR 500-700 million, according to the report. The parties have discussed a p

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.