Vodafone, MasOrange in Spain fibre JV
July 25, 2024
Vodafone Spain and MasOrange have signed a confidential non-binding term sheet which sets out proposed key terms for a national network sharing agreement
The proposed transaction will involve Vodafone Spain and MasOrange creating a joint fibre network company (FibreCo) that will cover approximately 11.5 million premises across Spain and will provide fibre access services to both companies within this footprint.
The initial ownership split of the FibreCo between the two operators will be based on customer numbers within the footprint.
The Parties plan to bring a third-party financial investor into the share capital of the new company that will take a 40 per cent share. MasOrange is expected to own 50 per cent with Vodafone Spain owning the remaining 10 per cent.
The new enterprise aims to provide access to a modern fibre optic network, with Zegona, Vodafone Spain’s parent company following its 2023 acquisition , suggesting that it will aim to adopt new technologies, while stimulating investment and innovation.
It also aims to meet high ESG standards thanks to energy savings compared to existing networks.
The proposed transaction is subject to final agreement between the parties and any required regulatory approvals.
“Creating this new FibreCo in partnership with MasOrange is a key part of our plan to transform Vodafone Spain,” commented Eamonn O’Hare, Chairman and CEO of Zegona,
“It will deliver a highly efficient fibre infrastructure for our customers with leading fixed line technology which will be at the forefront of the industry. The Proposed Transaction is expected to create significant incremental value for all Zegona stakeholders. We will have more news to share as we progress the transaction to completion.”
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