MASMOVIL, Ahimas agree EUR115m takeover fee, report says

17 Dec 2020

Spanish alternative operator Grupo MASMOVIL has agreed a EUR115 million (USD140 million) takeover fee for rural telecoms specialist Ahimas (Ahi+), Expansion reports, citing sources familiar with the situation. The breakthrough follows recent reports suggesting that the two parties were at loggerheads over the price of the deal; the telco’s management team had demanded EUR170 million for the company, but MASMOVIL was only wiling to pay EUR90 million.

TeleGeography notes that Ahimas provides a full suite of telecoms services in regional locations across Extremadura, Castilla-La Mancha, Andalusia and Comunidad Valenciana. The telco is currently owned by Inversiones Locua, but MASMOVIL has held an acquisition option since 2016. Indeed, the group paved the way for the transaction last year, when it acquired a 50.0001% stake in Spotting Development, which owns 31.66% of Inversiones Locua.

Spain, Ahimas (Ahi+), Grupo MASMOVIL (incl. Yoigo)