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Vodafone Confirms Interest in Bidding for Spain's Yoigo
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Vodafone's CEO, Vittorio Colao has confirmed that the company will look at acquiring the Spanish mobile network, Yoigo when it is put up for sale by its majority owner, TeliaSonera. He did not make any firm commitment to launching a bid, only noting that the company will study the opportunity.
It was reported yesterday that TeliaSonera will start sending out documents inviting bids within the next couple of weeks. The company is expected to seek offered upwards of EUR1 billion for the company and the sale could be completed in the first quarter of next year.
Vodafone's Colao was speaking to journalists in Spain and said that he sees consolidation in the market down to three, or even potentially just two networks, if competition between them can be preserved.
The European Union's Competition Commissioner is unlikely to agree with such a drastic level of consolidation, especially as he is already wary of ongoing attempts at that in the much smaller Austrian market.
On the web: El Economista
Tags: [yoigo] [vodafone] [teliasonera] [Spain]
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