Spanish alternative provider Grupo MASMOVIL could be sold within the next two-to-three years, Expansion.com reports. The divestment plans are said to be driven by the group’s shareholders – mainly venture funds and private equity groups – who are encouraged by the company’s surging share price and increased market capitalisation, which now stands at EUR2.4 billion (USD2.9 billion).
The report notes that domestic rivals Orange Espana and Vodafone Spain are the most likely buyers, having previously completed in-market acquisitions for Jazztel (May 2015, EUR3.4 billion) and ONO (July 2014, EUR7.2 billion), respectively. European players such as Liberty Global, Altice and NJJ Group are thought to be less likely suitors.
TeleGeography notes that Grupo MASMOVIL’s main shareholders are currently Madrid-based Onchena (17.0%), Wilmington Funds (10.0%), Fidelity (8.5%) and Providence Equity (4.0%).