TeliaSonera has reportedly formalised the sale process of its Spanish mobile arm Yoigo, which is expected to draw interest from investor Zegona and fledgling convergence player Másmóvil.
TeliaSonera (STO:TLSN) has reportedly formalised the sale process of its Spanish mobile arm Yoigo, which is expected to draw interest from investor Zegona (LSE:ZEG) and fledgling convergence player Másmóvil (BME:MAS).
The Swedish operator, advised by Deutsche Bank, is expecting bids in the coming weeks, reports Expansión. According to the newspaper, the offers would likely come in at €500m-€600m, with the seller unlikely to accept anything lower.
Zegona, set up in 2015 to turnaround European TMT businesses, entered the Spanish market in July 2015, when it acquired regional cableco Telecable for €640m (US$705m).
Másmóvil, an MVNO that acquired fixed-line assets disposed by Orange as part of its acquisition of Jazztel, has said it aims to become Spain’s fourth converged operator in competition with Telefónica, Vodafone-Ono and Orange-Jazztel.
The Swedish incumbent first mandated Deutsche Bank to sell the unit in 2012, attracting interest from Vodafone and Orange, which both failed to meet the €1bn asking price and went on to buy respective fixed-line operators Ono and Jazztel.
Másmóvil, Zegona, TeliaSonera and Deutsche Bank were not immediately available for comment.