The operation will give rise to a group with estimated revenues of 2,700 million euros and more than 1,500 employees
- Companies Operators launch into finance: MsMvil offer loans of up to 60,000 euros
MsMvil Group has launched a public tender offer (OPA), through its subsidiary Hello Telecom, on 100% of the shares of Euskaltel for a maximum amount of 2,000 million euros in cash.
The offer, which has been communicated this Sunday to the National Securities Market Commission (CNMV) yields a price of 11.17 euros per share, which represents a premium of 26.8% compared to the weighted average price of the shares in the last 6 months.
The offer, of a “friendly and voluntary” nature, is conditional on achieving “the acceptance of at least 75% plus one share of capital since it obtains all the appropriate competition and regulatory authorizations. Despite the fact that the offer is not an exclusion takeover bid, MsMvil intends to promote the exclusion of Euskaltel’s shares from the Stock Exchanges.
In addition, it already has the essential backing of 52.32% of Euskaltel’s share capital, since its main shareholders, Zegona Limited (through its parent company, Zegona Communications), Kutxabank and Alba Europe have agreed to accept it through irrevocable agreements reached with MsMvil.
STRENGTHEN YOUR POSITION AS A FOURTH OPERATOR
If the offer materializes, Grupo MsMovil will thus strengthen “its position as fourth operator and the one with the highest growth in the telecommunications market in Spain, “the statement said.
It also highlights that Euskaltel is the reference operator in the North of Spain and offers a wide range of services and solutions to its customers. 840,000 residential and business customers.
Your brands, Euskaltel in the Basque Country, R in Galicia and Telecable in Asturias, have been in the market for more than 25 years and “are one of the benchmark operators in convergent telecommunications services in their respective territories.” Furthermore, through the Virgin telco brand, Euskaltel has recently started its national expansion strategy.
MAINTAIN HEADQUARTERS IN THE BASQUE COUNTRY AND GALICIA
MsMvil has announced that it will maintain the Euskaltel, R, Telecable and Virgin brands, employment and social headquarters in Euskadi and in Galicia. The company has also reiterated its “strong” commitment to the Basque Country, Galicia and Asturias, where prev investing in 5G and fiber optics, while driving the company’s growth plans.
In addition, MsMvil highlights that the two companies are very complementary in terms of infrastructure assets at a geographical level, since they combine Euskaltel’s regional focus with the growth dynamics of the MsMvil Group throughout the national territory.
26 MILLION HOUSEHOLDS CONNECTED WITH FIBER
The sum of MsMvil together with Euskaltel will give rise to a group with about 14 million lines, an estimated revenue of approximately 2,700 million euros, 26 million fiber-connected homes, and more than 1,500 employees, with a strong presence throughout the national territory and capable of facing the heavy investments necessary to continue competing in the Spanish telecommunications market.
On the part of MsMvil, this process has had the legal advice of Clifford Chance, Castaeda Abogados and Evergreen Legal, and have acted as financial advisers BNP Paribas, Goldman Sachs and Barclays.
For its part, Euskaltel has counted on Citigroup Global Markets Europe AG, as financial advisor, and Ura Menndez, as legal advisor.
The operation has been financed by a syndicate of banks including BNP Paribas, Banco Santander, Barclays, Deutsche Bank and Goldman Sachs.
STRENGTHEN AND BOOST YOUR GROWTH
The CEO of the MsMvil group, Meinrad Spenger, pointed out that the announced operation “advances the growth of the sector in Spain and is good both for Euskaltel shareholders and their employees and, above all, for its customers, since they will be able to benefit from access to our fiber infrastructure and mobile, as well as a increased investments in the territories in which it operates “.
“In addition, this acquisition will allow MsMvil to reinforce and boost its growth and continue transforming the telecommunications sector in Spain,” he added.
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Source site www.elmundo.es