Orange Spain sets sights on Euskaltel buy
January 8, 2019
From David Del Valle in Madrid
Orange Spain is reportedly interested in acquiring Euskaltel following UK-based Zegona’s decision to withdraw its bid for the company.
According to El Economista, Orange and Euskaltel have a healthy relationship as a result of their partnership in mobile networks, with Euskaltel using Orange’s infrastructure since 2014.
Kutxabank, the largest shareholder in the Basque-country-based company with a 21.32 per cent, would approve the deal.
If the operation goes ahead, Orange, the second largest telco in Spain, would strengthen its position in the market.
Euskaltel currently has over 800,000 customers, with 2.2 million FTTH homes. In the north of Spain it also controls R in Galicia and Telecable in Asturias.