Telia Divests Full Stake in Spanish Yoigo to Masmovil to Focus on Nordics

Telia Divests Full Stake in Spanish Yoigo to Masmovil to Focus on Nordics Image Credit: Telia

As part of its strategy to increase focus on operations in the Nordics and Baltics, Telia has agreed to sell its 76.6 percent holding in the Spanish operator Yoigo to Masmovil, one of the leading mobile operators in Spain. Yoigo has approximately 3.3 million subscriptions and a market share of 7 percent in the country. 

The transaction price is based on an enterprise value for Yoigo of EUR 625 million, of which Telia's 76.6 percent share corresponds to EUR 479 million. The divestment is estimated to generate a capital gain of more than SEK 4 billion and, following debt adjustments, the transaction is expected to reduce the net debt for Telia by approximately SEK 6 billion.

Publicly listed in Spain since 2012, Masmovil is an integrated telecommunications operator that serves close to 1 million residential customers and 26,000 enterprises and is interconnected to more than 150 operators. 

Johan Dennelind, Telia Company’s President and CEO
The divestment of Yoigo is an important milestone in our ambition to increase focus on our operations in the Nordics and Baltics. 

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

PREVIOUS POST

Verizon Acquires Telogis to Bolster Connected Car Business

NEXT POST

MTS Shareholders Approve Acquisition by Bell Canada's Parent BCE

THE EDITOR'S DESK

UPCOMING EVENTS

Artelligence 2019

Network Virtualization and SDN Asia

Network Virtualization & SDN Americas

Mobile 360 Digital Societies 2019

TADSummit 2019

MWC Los Angeles 2019

The Digitrans Forum 2019

 

ON TWITTER

ON FACEBOOK