Swedish telecoms group TeliaSonera reportedly plans to launch the sale process for its Spanish mobile unit Yoigo within the next fortnight.
Preliminary documentation will be sent to prospective bidders shortly, reported Reuters citing three unnamed…
Swedish telecoms group TeliaSonera reportedly plans to launch the sale process for its Spanish mobile unit Yoigo within the next fortnight.
Preliminary documentation will be sent to prospective bidders shortly, reported Reuters citing three unnamed sources familiar with the matter. France Telecom, Vodafone, Telefonica and Carlos Slim’s Mexico-based telecoms group America Movil (AMX) have all been named as potential bidders, however, AMX has denied having an interest.
Media reports in mid-July suggested TeliaSonera had mandated Deutsche Bank to manage the disposal of its 76.6% stake in Yoigo, which is expected to command a price of about €1bn (US$1.29bn), as part of a broader strategy to focus on core Scandinavian and higher-growth central Asian markets. However, according to today’s report, the summer holidays and recent departure of Yoigo’s CEO delayed the process.
TeliaSonera declined to comment on the matter, citing company policy.
France Telecom CEO Stephane Richard told the Financial Times in August that the group is prepared to make acquisitions in Europe again, and would look at Yoigo – Spain’s fourth largest mobile operator – if the opportunity arose. Richard said the company planned to closely monitor developments in the European markets in which it already has a presence.
Telefonica currently has the largest share of the Spanish mobile market, followed by Vodafone and France Telecom, respectively.
Yoigo offers mobile services via its own 3G network and has a roaming agreement with Telefonica. Its other shareholders are ACS, which has a 17% stake, FCC, which owns 3.4%, and Telvent with 3%.
