MASMOVIL now owns 100% of Nowo, reports say

13 Nov 2020

Press statements attributed to Grupo MASMOVIL have appeared in the Portuguese media confirming suggestions that the Spanish group has raised its stake in cableco Nowo from 49.99% to 100%. The increased shareholding follows the EUR40 million (USD47.4 million) agreement to sell Nowo’s B2B sister company, ONI, to cloud computing firm GIGAS.

While the specifics of the ONI deal were made public by GIGAS, and GAEA Inversion (which co-owned both businesses with MASMOVIL) has hinted at a ‘restructuring’, privately-owned MASMOVIL has remained tight-lipped thus far.

However, the statement notes: ‘[Nowo] will now have MASMOVIL as the sole shareholder with [an] 100% interest … [This] will allow it to concentrate future investment efforts in 5G, and Nowo will participate in the spectrum auction announced by ANACOM last Thursday.’ Nowo has indicated that it will also deploy a new fibre-optic network, with an initial focus on Lisbon and Porto.

Portugal, Grupo MASMOVIL (incl. Yoigo), Nowo (formerly Cabovisao)