The Portuguese Competition Authority (Autoridade da Concorrencia, AdC) has approved the proposed takeover of AR Telecom by Spanish operator Aire Networks del Mediterraneo. The deal was submitted on 18 February and given the green light by the regulator on 23 March. Aire, which has been backed by Magnum Capital since June 2018, has previously inked deals for Spanish firms Unelink, Prored and LCRcom.
TeleGeography notes that AR Telecom commenced operations in Lisbon back in June 2000, under the Jazztel Portugal brand name. In January 2004 Spanish telco Jazztel sold Jazztel Portugal to Jadinca, the telecoms arm of industrial holding company SGC, for EUR10 million (USD12.5 million). In September 2005 Jazztel Portugal was renamed AR Telecom.
Unveiling the transaction last month, Raul Aledo, CEO of Aire Networks, stated: ‘It is the first step towards the internationalisation of Aire Networks … AR Telecom has a broad portfolio of clients to whom it provides unified communications and cloud services, which for us represents a great growth opportunity.’