Grupo MÁSMÓVIL to acquire Euskaltel

MADRID — Grupo MÁSMÓVIL has announced the launch of a public acquisition offer (OPA) through Kaixo Telecom, S.A.U., a company wholly owned by MASMOVIL Ibercom, S.A.U., for 100% of the shares of Euskaltel, S.A.

Euskaltel is one of the leading Spanish telecommunications companies, offering a wide range of services and solutions to residential and business clients. Its brands, Euskaltel in the Basque Country, R in Galicia and Telecable in Asturias, have been in the market for more than 25 years. In addition, through the Virgin telco brand, Euskaltel has recently started a national expansion strategy.

MÁSMÓVIL already has backing from the owners of 52.32% of Euskaltel’s share capital, since Euskaltel’s main shareholders, Zegona, Kutxabank and Alba Europe, have agreed to accept the deal through irrevocable agreements reached with MÁSMÓVIL.