MásMovil offers €550m for Yoigo
Spanish multi-services operator MásMovil has reportedly offered €550 million to acquire a 75% stake in Telia-owned mobile operator Yoigo.
The last-minute offer comes after Zegona, the UK-based investment vehicle behind regional broadband provider Telecable, failed to secure funding in time to finalise its €630 million bid to acquire the stake by the end of the exclusivity period on April 22, according to El Confidencial reports.
The news comes after MásMovil had dropped out of the initial bidding process for Spain’s fourth largest mobile operator a number of weeks ago, unable to reach a figure expected by Telia.
Telia is now weighing up whether to accept MásMovil's offer or give Zegona more time to secure its funding.
By end-2015, Yoigo had 3.3 million customers and an €754m turnover.