Vodafone to acquire Nowo
Vodafone Portugal (Vodafone) has entered into an agreement with Llorca JVCO, shareholder of Másmóvil, to acquire Cabonitel, owner of Nowo Communications (Nowo).
The deal is subject to regulatory approval and but is expected to be completed by Q1 of 2023, details of the transaction has not been disclosed.
“The acquisition of Nowo will allow Vodafone to increase its customer base, as well as its fixed network coverage. The future modernization of the network acquired for the new generation of optical fibre will benefit current and future users, by guaranteeing the quality and increased resilience of this infrastructure," said Mário Vaz, CEO of Vodafone Portugal.
"With 30 years of commercial activity in the Portuguese market, this operation is yet another demonstration of Vodafone’s and its shareholder’s commitment to the country, and of the commitment to the development of an increasingly digital society and business fabric in Portugal.”
The acquisition of Nowo by Vodafone will bolster Vodafone's competitiveness in the market, giving it with greater scale and coverage across Portugal. Through the transaction, the company lays the foundation for greater investment in high-speed connectivity, as well as in the development of innovative products and services.
Nowo is the fourth largest telco in Portugal, with approximately 250 thousand mobile service subscribers and 140 thousand fixed access customers, totalling approximately 1 million homes.
In related news last month, Vodafone in collaboration with Deutsche Telekom, Orange and Telefónica. together with the deep tech company MATSUKO, have carried out a pilot for holographic calls.
The aim of the trials was to make holographic call as simple as making a conventional phone call by interconnecting their deployments so that customers can join a common holographic communication session.