MásMóvil has notified the Portuguese Competition Authority (AdC) of acquiring sole control over Cabonitel.
Spanish operator MásMóvil has notified the Portuguese Competition Authority (AdC) of acquiring sole control over Cabonitel, which it held jointly with GAEA Inversión, according to a published announcement.
The concentration notified to the regulator consists in the acquisition, by MásMóvil Ibercom, of sole control over Cabonitel, a company incorporated under Portuguese law that owns 100% of Nowo Communications, which provides electronic communications services, namely fixed pay-TV, high-speed internet and landline telephone services and mobile telephone, messaging, data and internet access services.
MásMóvil Ibercom is the parent company of a group of companies dedicated to the sale and distribution of electronic communications and information technology products and services in Spain, providing fixed, mobile and broadband internet services through its Yoigo, MásMóvil, Euskatel, Virgin Telco, Pepephone, Llamaya and Lebara brands.
The notification to AdC, which will now analyse whether to oppose the deal for affecting competition in the markets, comes after the Spanish telecoms group entered into an agreement in November 2020 to buy Oni from Gigas Hosting, an operation valued at €40 million according to the company.
With this operation, Nowo now has Másmóvil as the sole shareholder, allowing the group to concentrate investment efforts on the future 5G, with Nowo having competed in the auction for the attribution of the fifth-generation (5G) licences in Portugal and participated in the construction of the new fibre optic network in Portugal.
Másmóvil entered the Portuguese market in 2019, purchasing from US funds KKR, together with GAEA, of Cabonitel, owner of Nowo and Oni.