MásMóvil sells network to Onivia for 390 million to finance the purchase of Euskaltel

MásMóvil has sold the majority of the capital of the company that manages a network that covers 1.1 million homes in rural areas to the fiber wholesale operator Onivia. The operation has been supported by the shareholders of Onivia, the funds Macquarie Capital, Aberdeen Standard Investments and Daiwa Energy & Infrastructures.

With this investment, Onivia has announced that it will double its possibilities of access to the market, by being able to provide telecommunications services to two million households.

MásMóvil, according to analysts, is seeking financing for the purchase of Euskaltel, an investment estimated at around 2,000 million. The Basque operator has entered into losses in the first quarter of the year by registering some Red numbers of 2.1 million.

A negative result that responds to the cost of the deployment of its offer throughout Spain through Virgin telco, which has also reported 101,000 new customers. And because it has had to paralyze the entry of a partner in its fiber subsidiary, which would provide capital. It has also blocked the renegotiation of wholesale agreements to cut costs. In both cases by the MásMóvil takeover bid, whose CEO is Meinrad Spenger.

Onivia will be able to access a thousand municipalities with less than 25,000 inhabitants with the MásMóvil network. MásMóvil will keep customers served by this network. It will continue to use it, like Orange, as anchor clients.

José Antonio Vázquez, CEO of Onivia, has indicated that the operation confirms his vocation to expand the national reach of the group and to contribute to avoiding the digital divide.

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