The majority of Masmovil shareholders have agreed not to sell their shares until 3 June 2016, extending the lock-up period by one year.The shareholders who did not agree on the lock-up may sell up to a maximum of 1% of the average daily volume of shares,…
The majority of Masmovil shareholders have agreed not to sell their shares until 3 June 2016, extending the lock-up period by one year.
The shareholders who did not agree on the lock-up may sell up to a maximum of 1% of the average daily volume of shares, the Spanish MVNO said in a statement.
The lock-up period was first agreed on 3 June 2014, as part of the merger between Mas Mobile Telecom and World Wide Web Ibercom.
Listed MasMovil has been tipped as a favoured candidate for Orange’s fixed-line assets, due to its experience in both mobile and fixed services and its smaller size.
In the past year, the operator acquired local VoIP service UppTalk and its MVNO UppMobile, business-oriented operator Xtra Telecom, wholesale telecoms services provider Quantum Telecom and cloud-focused player Neo Operador de Telecomunicaciones. It has indicated that is keen to pursue further acquisitions.
Last month, Eduardo Taulet, CEO of TeliaSonera-owned Yoigo, which would also be keen to acquire Orange’s assets, said that, should its own bid fail, the company would be willing to negotiate with “those who have or will have [assets] to reach corporate or commercial agreements”, hinting at a potential deal with MasMovil.
MasMovil, which was founded in 2006 by Norwegian Christian Nyborg and Austrian Meinrad Spenger, operates over the Orange network. The company, which claims to have over 130,000 customers, is listed on the alternative investment segment of the Madrid stock exchange.
