The MásMóvil takeover bid, at 11.17 euros per share (with a 27% premium over the last six months of trading) was announced on March 28. It involves the payment of almost 2 billion euros, as it is a full cash transaction. The success of the takeover bid – conditional on 75% of capital – seems guaranteed, as 52% of Euskaltel’s capital has already expressed its intention of accepting the offer.
Bankinter | The Vodafone and Orange alliance aims to gain size to become an alternative to the big players in the sector, Cellnex and American Tower. The latter recently landed in Europe after the purchase of Telefónica’s towers. The sum of the towers that both groups would contribute to the new “infraco” would be 17,000 sites. It would become the leader in the Spanish market, surpassing Telxius (10,000 towers) and Cellnex (9,000).
The regulator for Spain’s telecommunications sector, the CNMC, has consulted the operators on the new regulation for the broadband market, ahead of further consultation with the European Commission. The new regulation is expected to be approved next summer at the earliest. The CNMC is proposing greater liberalization in the fiber market, which involves increasing the number of cities where it considers there is sufficient competition and, thus, where there is no need to share the network at regulated prices.
Alphavalue | Telefonica´s poor figures for Q119 traded with falls of 31%. Sales of 11.98 Bn€ › 11.81 Bn€ estimated by the consensus. Our analysts highlight that the operator improved income in all the geographic areas where it is present, especially in Spain and Brazil, its two main markets.
Banc Sabadell | Telefonica will decide in the coming days between the binding and final offers it has on the table, namely Digital Realty, Equinix and Brookfield’s. The price would be around 500/600 million euros. The Spanish tech company has 23 data centers in 9 countries.
The European Commission authorise the merger in Holland between Tele2 and Deutsche Telekom without preconditions , which drove the European teleco sector yesterday. Until now the Commission had shown itself radically opposed to allowing corporate operations which imply a reduction from four to three in the number of operators in a country.
MADRID | The Corner | In one of the best symptoms of economic recovery, companies are leaving risk aversion behind and buying others to grow. In the first six months of the year, M&A operations reached $1.75 trillion worldwide, 75% more than during the same period of 2013. The pharma sector is in pole position, with multiples reaching 21.3x PE globally vs. 16.1x in 2013, and 4 of the 10 largest operations announced for 2014. According to JP Morgan, if we annualize 1S volume, operations could total $3.642 trillions by the end of the year.
MADRID | The Corner | Spanish telecom giant Telefónica closed the sale of its subsidiary Telefónica Ireland to Hong Kong’s Hutchison Whampoa Group (HWG) for €850 M ($1.2 billion). HWG is also known for its mobile firm Three, the fourth operator in Ireland. Antitrust authorities, which have been expressing their concerns about how this operation might impact on the country’s competition, have now given green light to one of the country’s largest ever telecoms groups.
By Julia Pastor, in Madrid | 60,000 professionals and 1,500 companies from more than 200 countries (86 of the participating firms are Spanish) gather since Monday and for a further week in the Mobile World Congress MWC held in Barcelona. It is the seventh meeting edition hosted by the Spanish city, and the first one since Barcelona was awarded the title of Mobile World Capital last July, an honour that…