Vodafone Portugal to acquire Nowo
October 3, 2022
By Colin Mann
Vodafone Portugal has entered into an agreement with Llorca JVCO Limited, shareholder of Másmóvil Ibercom, SA, for the purchase of Cabonitel SA, owner of Portugal’s fourth largest multiplay operator Nowo Communications.
Nowo has some 250,000 mobile service subscribers and 140,000 fixed access customers (pay-TV and broadband) in approximately 1 million homes covered by its communications infrastructure.
The acquisition of Nowo’s operation by Vodafone reinforces its competitiveness in the market, providing it with greater scale and greater coverage, with benefits for current and future customers, as well as for the sector. It also creates the conditions for more efficient investments in high-speed connectivity networks, as well as in the development of innovative products and services.
The transaction is dependent on the necessary regulatory approval, and it is expected that it will be completed during the first half of 2023.
“The acquisition of Nowo will allow Vodafone to increase its customer base, as well as its fixed network coverage,” explained Mário Vaz, CEO of Vodafone Portugal. “The future modernisation of the network acquired for the new generation of optical fibre will benefit current and future users, by guaranteeing the quality and increased resilience of this infrastructure. With 30 years of commercial activity in the Portuguese market, this operation is yet another demonstration of Vodafone’s and its shareholder’s commitment to the country, and of the commitment to the development of an increasingly digital society and business fabric in Portugal.”