Vodafone Spain denied it had put its fixed network up for sale, as business newspaper Expansion reported the operator was mulling several offers for the asset.
Its fixed and cable network in the country is estimated to be worth around €1.2 billion with a number of parties thought to be interested in acquiring it.
In its statement to Expansion, Vodafone Spain denied it had proactively sought buyers for the unit in its entirety, but did not dismiss the prospect of a partial sale. It added “possibilities are always being analysed and studied to find efficiencies and improve the profitability provided by assets.”
The company already has a deal in place with rival Masmovil to share fibre connections and cut costs associated with providing the broadband service.
Spain has become something of a problem market for the operator in recent years with senior executives regularly citing the country among its most challenging in Europe due to fierce competition and cost cutting measures from rivals.
Earlier this year, it announced it would cut around 20 per cent of its workforce in Spain due to cost pressures.
As it looks to cut overheads across its footprint, Vodafone Group has made a number of network sharing agreements in recent months and is in the process of spinning off its mobile towers into a separate company with a view to cashing-in on that asset.Subscribe to our daily newsletter Back