MasMovil says had no contacts with Vodafone over potential takeover

MADRID/LONDON: Spain’s MasMovil and its new non-public fairness homeowners stated they’d not been involved with Vodafone after a newspaper reported the London-based firm had began talks about shopping for the cell operator.
A Spanish every day, citing sources with data of the state of affairs, stated on Friday that Vodafone had began talks with the three buyout funds that lately took over MasMovil.
“MasMovil has not had any interplay in any way with Vodafone in relation to a possible company transaction,” the corporate stated in a press release.
A spokeswoman, talking on behalf of the non-public fairness corporations, additionally stated there had been “no conversations in any way” with Vodafone.
A deal might worth MasMovil at 6 billion euros ($7 billion), together with debt, El Economista stated.
Vodafone declined to remark.
Personal fairness funds KKR, Cinven and Windfall lately purchased most shares in MasMovil in a public tender supply that valued the corporate at three billion euros, and are planning to squeeze out the remaining minority holders and delist the corporate within the coming weeks.
Numerous analysts who comply with Vodafone have been sceptical concerning the prospects of a take care of MasMovil.
“We’re extremely uncertain,” Jefferies stated in a observe. “We repeat our view that the alternative – Vodafone promoting its Spanish enterprise to a de-listed MasMovil – is way more believable.”
A report in October 2019 saying MasMovil was in talks to purchase Vodafone’s Spanish operation was denied by each corporations.
The report additionally stated in June that France’s Orange, one other main operator in Spain, was discussing a counter bid for MasMovil in response to the non-public fairness supply. Orange dismissed the report.
European telecom operators have struggled to spice up revenue progress in a crowded market and attainable consolidation in Spain might be adopted by related strikes in different nations.

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