Spanish enterprise telco Ibercom will merge with MVNO Masmovil to create an operator with a market capitalisation of €140m (US$193m).
The deal was done through a cash and share swap and the resultant company will be the third largest listed on MAB,…
Spanish enterprise telco Ibercom will merge with MVNO Masmovil to create an operator with a market capitalisation of €140m (US$193m).
The deal was done through a cash and share swap and the resultant company will be the third largest listed on MAB, Spain’s equivalent of the LSE sub-market AIM.
Following the merger, Ibercom’s majority shareholders Jose Poza and Luis Villar will hold 32% of the combined telco. Meanwhile venture capital firm Inveready, which holds a significant stake in Masmovil, will take 11% of the new operator. Masmovil’s co-founders, Meinrad Spenger and Christian Nyborg, will own around 7%.
Spenger, managing director at Masmovil, is set to head up the merged company.
Masmovil offers budget MVNO services, while Ibercom’s business consists of data centres, VoIP, traditional voice, and internet.
