Swedish telco TeliaSonera is reportedly considering selling its majority stake in Spanish mobile operator Yoigo in a deal that could raise €1bn or more.
Reuters cited four unidentified sources familiar with the matter as saying TeliaSonera has hired…
Swedish telco TeliaSonera is reportedly considering selling its majority stake in Spanish mobile operator Yoigo in a deal that could raise €1bn or more.
Reuters cited four unidentified sources familiar with the matter as saying TeliaSonera has hired Deutsche Bank to handle the sale of its 76.6% in Yoigo – part of a broader plan to refocus on Scandinavian and higher-growth central Asian markets.
Vodafone and France Telecom would be natural bidders for Spain’s forth largest mobile operator, the report cited its sources as saying, as major European telcos turn to their main markets for further growth.
Carlos Slim, whose Mexican telecoms group America Movil (AMX) recently acquired significant stakes in Telekom Austria and Dutch telco KPN, could also bid, the report added. On its recent transactions in Europe, Deutsche Bank had acted as adviser to AMX.
Telefonica could also be interested, the report cited two of its sources as saying, although this could pose difficulties given the heavily-indebted Spanish telecoms group already has a 43% share of the local mobile market. Vodafone and France Telecom have the second and third largest shares respectively.
Meanwhile the Financial Times, which broke the story first, was more cautious in its report, writing TeliaSonera is considering such a disposal but has not made a final decision. The article referred to an unnamed source.
TeliaSonera was not immediately available for comment.
Yoigo offers mobile services via its own 3G network and has a roaming agreement with Telefonica, according to the TeliaSonera website. Its other shareholders are ACS, which has a 17% stake, FCC, which has 3.4% and Telvent, which has 3%.
