Orange dismissed reports it was preparing a counter offer for Masmovil, after a consortium of private investors made a €2.96 billion bid to acquire the Spanish operator earlier this week.
A representative told Mobile World Live, Orange is “not contemplating” joining the hunt for Masmovil, denying a report by El Economista stating the operator’s board was discussing a move.
The operator said its Spanish unit has a “privileged position” in the country’s telecoms sector and has its full support to grow “organically”.
Earlier this week, Masmovil co-founder and CEO Meinrad Spenger revealed the board approved of a €2.96 billion bid by a consortium comprised of Lorca Telecom BidCo, Cinven Capital Management and KKR Associates Europe, believing their proposal would benefit shareholders and stakeholders.
GSMA Intelligence figures placed Masmovil as Spain’s fourth-largest operator by connections at end-Q1, with 7.6 million. Orange Spain had 16.4 million, with Telefonica’s Movistar on 16.2 million and Vodafone Spain 13.5 million.
In 2019, Masmovil dismissed rumours it was mulling a takeover of Vodafone Spain.Subscribe to our daily newsletter Back