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Wireless

Providence set to become Masmovil's largest shareholder

Friday 15 July 2016 | 15:13 CET | News
Masmovil said it is to receive funding of EUR 165-200 million from private equity firm Providence Equity to help it pay for its acquisition of mobile operator Yoigo. Providence will receive long-term convertible instruments that would, if fully exercised, make it Masmovil's largest shareholder after 39 months. As part of the agreement, Providence will nominate two representatives for Masmovil's board. Masmovil also called an extraordinary general meeting for 16 August to seek shareholder authorisation approval for the Yoigo and Pepephone takeovers and debt issue.

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Categories: Mobile & Wireless
Companies: Masmovil / Pepephone / Yoigo
Countries: Spain
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