Spain: Orange won’t bid for Euskaltel
February 7, 2019
From David Del Valle in Madrid
Orange Spain will not buy – partly or wholly – the Basque-country based telco Euskaltel.
In a statement to Bloomberg, the company said that “it rules out any transaction with Euskaltel”. With the announcement, Orange Spain puts an end to speculation over the last weeks about its intention of buyinging into Euskaltel to strengthen and consolidate its second position in the Spanish telco market.
The move will pave the way for the British firm Zegona to acquire a major share in the company of over 20 per cent – up from the current 15 per cent.