Alphavalue/Divacons | Citing sources close to the deal, El Español reports that Telefónica (TEF) is in talks with 1&1, a subsidiary of United Internet (add, Target Price €31.3/share), for a possible purchase. The acquisition price would reportedly be between €4.5 billion and €5 billion.
This move seems logical from a strategic point of view, as a possible takeover bid by Telefónica for Vodafone Spain would be complicated if a RANco (radio access network company) agreement between Vodafone Spain and MasOrange were to be consolidated in the coming months, as predicted by Eamonn O’Hare, CEO of Zegona.
Telefónica shares closed on Friday with gains of 5.51%.
Telefónica: Buy, Target Price €5.78/share.
