BT Group’s proposed joint venture with Warner Bros Discovery is neutral to BT’s rating, according to credit rating agency Fitch Ratings, who expect the impact on its credit metrics to be limited. “Deconsolidation of the JV should not affect the group’s EBITDA significantly, while the impact on net debt at transaction close is expected to […]

Orange Spain’s intention to merge its Spanish operations with MásMóvil in Spain will be neutral for the rating but will attract high EU competition and regulatory scrutiny due to resulting market consolidation, reports Fitch. Orange and MásMóvil have announced that they have entered into exclusive discussions to combine their businesses in Spain to create a […]

According to credit rating agency Fitch Ratings, European telecoms operators continued heavy investment in rolling out fibre and 5G networks will keeping capex high and limit free cash flow (FCF) generation in the short term. The impact will be the greatest on incumbent operators’ FCF as they need to deploy both networks simultaneously and, in […]