Euskaltel hires Lazard to sell fixed networks, report says

17 Aug 2020

Spanish regional telecoms operator Euskaltel Group has hired investment bank Lazard to explore a potential sale of its broadband network, local news site Expansion reports, citing market sources. If a deal comes to fruition, Euskaltel intends to rent the network back from the new owner and use the cash generated by the sale to develop its new Virgin Telco sub-brand, the report added.

Euskaltel Group – which comprises Euskaltel (Basque Autonomous Community), R Cable (Galicia) and Telecable (Asturias) – launched Virgin Telco, a new national sub-brand in May this year, with a view to targeting the 85% of the Spanish market not covered by its existing brands.

Spain, Euskaltel Group (incl. R Cable and Telecable), Virgin Telco (Spain)