Grupo MASMOVIL gains CNMC approval for Yoigo acquisition

8 Sep 2016

Spain’s National Commission for Markets and Competition (Comision Nacional de los Mercados y la Competencia, CNMC) has approved the acquisition of local mobile network operator (MNO) Xfera Moviles, which operates under the Yoigo banner, by Grupo MASMOVIL. The watchdog said that having analysed the proposed transaction it has determined that the deal will allow Grupo MASMOVIL, which currently operates in the wireless sector as a MVNO, to develop converged offers to rival those marketed by the nation’s other three MNOs Movistar, Orange Espana and Vodafone Spain.

As previously reported by TeleGeography’s CommsUpdate, in June 2016 Sweden’s Telia Company confirmed an agreement to divest its 76.6% stake in Yoigo to Grupo MASMOVIL, in a deal valued at EUR479 million, saying the decision was in line with its strategy ‘to increase focus on operations in the Nordics and Baltics’. At the time, the companies involved said they expected the transaction to be completed in the third quarter of 2016.