Masmovil buys Lebara Spain for EUR 55 mln, adds 423,000 customers

Nieuws Mobiel Spanje 21 NOV 2018
Masmovil buys Lebara Spain for EUR 55 mln, adds 423,000 customers

Spanish telecommunications group Masmovil, the country’s fourth largest network operator, has announced the acquisition of ethnic MVNO Lebara Spain for EUR 55 million, adding a total of 423,000 new prepaid clients to a customer base that recently passed 7 million. Lebara started operations in Spain back in 2007 and reported revenues of around EUR 50 million over the past 12 months. In a statement Masmovil said it expects to obtain operational synergies from the transaction due to cost reductions arising from Lebara’s MVNO contract with Vodafone that expires in April 2019, resulting in a post-synergy EBITDA of around EUR 24 million.

The transaction comes after MasMovil acquired MVNO Llamaya from More Minutes Communications for a total of up to EUR 41.7 million in February last year, having bought Yoigo and Pepephone back in 2016. The group last month passed 7 million mobile and fixed line customers after adding 1.5 million in the first 10 months of 2018 and ended the third quarter with service revenues of EUR 305 million, up 22 percent year on year on an organic basis.

Categories:

Mobiel

Companies:

Vodafone,  Lebara,  Masmovil,  LlamaYa

Countries:

Spanje

Tags:

M&A buyouts & divestments

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