HomeFinancial/RegulationVodafone to buy MásMóvil's Portuguese subsidiary

    Vodafone to buy MásMóvil’s Portuguese subsidiary


    Merger in the Iberian peninsular

    Spanish mobile operator MásMóvil is divesting itself of its Portuguese subsidiary to Vodafone for €150 million and exiting the Portuguese market.

    Telecoms group Vodafone has agreed to buy Portuguese rival Nowo from MásMóvil as part of an expansion plan in the country, reports Spanish newspaper Expansion

    Nowo is the fourth largest operator in Portugal with about 250,000 mobile phone clients and 140,000 clients for fixed telecom services, Vodafone said.

    The deal will be finalised in the first half of 2023, Vodafone said.

    The transaction is worth about €150m, a MásMóvil official confirmed.

    The deal is part of a wider consolidation process in the Iberian peninsula where MásMóvil, owned by private equity investors KKR, Cinven and Providence, is in the process of merging with the Spanish unit of French operator Orange Group to create the largest operator in Spain in terms of clients.