Grupo MASMOVIL notifies AdC it now has sole control over Cabonitel, Nowo

26 Jan 2022

Spanish telecoms player Grupo MASMOVIL has informed the Portuguese Competition Authority (Autoridade da Concorrencia, AdC) that it now has sole control over Cabonitel, the holding company that controls Portuguese cableco Nowo. The regulatory announcement is dated 20 January, and appears to bring an end to a takeover process that started back in late-2019.

According to TeleGeography’s GlobalComms Database, the AdC approved a request by MASMOVIL to acquire a 49.99% stake in Cabonitel in October 2019, and the deal closed the following month. In November 2020 it was reported that MASMOVIL was in the process of increasing its stake in Nowo from 49.99% to 100% via a restructuring exercise involving partner GAEA INVERSION. A time frame for the completion of the process was not immediately disclosed, however.

Portugal, Grupo MASMOVIL (incl. Yoigo), Nowo