Spanish telecommunications provider Masmovil, the country’s fourth largest network operator, has reiterated its full-year guidance for 2020 and 2021, taking into account the impact of the coronavirus epidemic on its business. In a filing with securities market regulator CNMV, the operator said it expected to achieve an adjusted EBITDA of EUR 570-600 million this year, with a margin of 30-32 percent, rising to EUR 670-700 million, with a margin of 32-34 percent in 2021.
It said the negative impact of the Covid-19 crisis on the Spanish economy would be offset by the positive contribution of the operating agreements it has reached in recent weeks. In addition, the guidance doesn’t take into account the contribution of Lycamobile Spain, whose assets it acquired for a total of EUR 361 million earlier this year.
Separately, Reuters reported that a consortium bidding to take over Masmovil secured a loan of EUR 2 billion to fund the deal, according to a term sheet from one of the lead managing banks. The 7-year loan, which private equity firms Cinven, KKR and Providence aim to use the finance the bid, was increased in size from an originally targeted EUR 1.5 billion, said the report.
