2 Apr, 2014 @ 13:43
1 min read

Telecoms merger creates new competition

ibercom masmovil e

TELECOM companies Masmovil and Ibercom are set to merge together to form Spain’s third largest firm in the sector.

Bosses of both companies are confident the move – involving cash and share exchange – will be approved at the shareholder’s AGM. Only Telefonica and Jazztel would be bigger.

Masmovil Ibercom will also become the third largest Alternative Investment Market firm in Spain behind Gowex and Carbures.

This collaboration comes after Vodafone announced it has taken over cable company ONO for 7.2 billion, suggesting a major restructuring of the Spanish telecommunications market is on the horizon.

A Masmovil spokesman said the joint firm aims to appeal to the ‘residential and business’ market with ‘landline and mobile solutions’.

Previous Story

The light has switched back on in Mijas’ property market

antonio  e
Next Story

Spanish public notary wins bank mis-selling case

Latest from Business & Finance

Go toTop

More From The Olive Press

Bank wars in Spain: BBVA announces hostile takeover of rival Sabadell – after merger deal failed

SPANISH bank BBVA has launched a hostile takeover bid for
Vodafone Spain is sold to British firm for £4.4billion

Vodafone Spain is sold to British firm for £4.4billion

VODAFONE SPAIN has been sold to UK telecoms investor Zegona