MásMóvil has sold to wholesale operator Onivia a controlling stake in a fibre optic network spread over a thousand rural locations for around €200 million according to market sources consulted by Europa Press.
The acquired network will have as a client MásMóvil and another “of the main operators” in the country, according to a statement from Onivia. In addition, it is in the process of construction, so the investment will help to undertake deployments to reach half a million homes.
Onivia’s CEO, José Antonio Vázquez, pointed to the existence of “great opportunities for growth in the market,” and highlighted the trend towards increasing the density of networks in rural municipalities.
The operation must still receive the relevant legal authorisations for this type of transaction, including Foreign Direct Investment (FDI).
This transaction has been advised by Deloitte Legal’s M&A team, led by partner Borja Escrivá de Romaní, together with senior associates Jorge Martín Girola Mariño and Sara Moncada.
This transaction strengthens Onivia’s position in Spain as a major wholesale fibre-to-the-home (FTTH) operator.
CMS Spain advised Macquarie, Aberdeen, Daiwa and Arjun, with a team led by partners Alfonso Codes, Irene Miró, Carlos Peña, Jorge Sánchez and Ignacio Zarzalejos, counsel Juan Moreno, senior associate Marta González, and associates José Luis Rodríguez and Ana Vázquez.
On the other hand, Pérez-Llorca advised Másmóvil with a team made up of Corporate partner Alejandro Alberte and associates Lucía Rodríguez and Alberto Varela-Grandal, Competition partner Juan Jiménez-Laiglesia, and Public Law partner Ana Cremades.
