Jazztel confirms talks with TeliaSonera over possible bid for Yoigo

12 Sep 2014

Sweden’s TeliaSonera has issued an update on the review of its future presence in the Spanish telecoms market, where it currently operates via subsidiary Xfera Moviles, which trades under the Yoigo banner. In the wake of a regulatory filing made by alternative broadband provider Jazz Telecom (Jazztel), which revealed that it had begun initial talks with TeliaSonera over a possible offer for Yoigo, the Swedish outfit has confirmed such negotiations, while also revealing that it is also in discussions with ‘other parties’.

As noted by Bloomberg, in Jazztel’s filing it notes that the talks with TeliaSonera are ‘still in the initial phase’, prompting it to say that it ‘isn’t possible at this time to anticipate the terms and conditions of the transaction if it were to materialise’.

Previously, in mid-July 2014 CommsUpdate reported that TeliaSonera was considering divesting its Spanish unit, saying that ‘forced by a strong convergence trend that puts pressure on [its] mobile-only business’ it had begun a review of its involvement with Yoigo.

Spain, Jazztel, Telia Company, Xfera Moviles (Yoigo)