Vodafone Group and Grupo MASMOVIL are exploring the possibility of a merger of their Spanish assets, El Economista reports, citing sources familiar with the situation. If the process moves forward, it will see the creation of a new company in which Vodafone would hold the majority stake – which will be in the region of 60%-80%.
TeleGeography notes that MASMOVIL was recently acquired by buyout firms Providence, Cinven and KKR in a deal worth EUR2.96 billion (USD3.24 billion); the full takeover and delisting concluded earlier this month. Speculation regarding a tie-up between the two full-service telcos has been a recurring theme in recent years, however. Vodafone was tipped to launch an eleventh-hour bid in September, but no offer materialised. Previously, in October 2019 Vodafone was linked with an initial merger approach. Both reports suggested that Vodafone was willing to pay as much as EUR6 billion for its smaller rival.