MásMóvil launches a public acquisition offer for Euskaltel: they seek to acquire the Basque operator for around 2,000 million euros
The Grupo MásMóvil has announced its intention to acquire the operator Euskaltel. Through a public acquisition offer (OPA) they seek to acquire 100% of the shares of the Basque operator, offering an amount of approximately 2,000 million euros for the company.
By communicating the offer to the National Securities Market Commission, the intention to purchase is made official. It is a voluntary and amicable acquisition, so most of the shareholders must agree to sell them to MásMóvil for the agreement to take place. With a sum of about 2,000 million euros, corresponds to about 11 euros per share and a premium of around 27% compared to the price of the last six months.
According to MásMóvil, they say that they already have the support of 52.32% of the capital of Euskaltel. In other words, main shareholders such as Kutxabank, Alba or Zegona have agreed to sell their shares through irrevocable agreements. In order to reach an agreement to purchase the operator, it is necessary to be able to buy a minimum of 75% of the shares. Likewise, that the market regulators give the go-ahead.
(The Giant) MoreMobile
Founded in 1997 and with more than two decades of history, MásMóvil has grown little by little to become the fourth operator in Spain. During this growth, it has become the MásMóvil Group, which is made up of both its MásMóvil operator and others that it has acquired over the years. Among them, Yoigo stands out, Pepephone o Lebara.
The already almost purchase of Euskaltel may put on hold the rumors about another great acquisition they were looking to make, that of Vodafone Spain. While they have acquired companies of all kinds, such as a Sevillian startup that develops smart sensors or one electric company. At the customer level, recently took off with 5G.
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