Spain's Yoigo is up for Sale - Again
Published on: 21st Mar 2016
Note -- this news article is more than a year old.
TeliaSonera has confirmed that it is in talks which could see another attempt to sell its Spanish subsidiary, Yoigo.
Yoigo has been intermittently up for sale for several years, but TeliaSonera has never found a suitable buyer.
It has now said that it is in exclusive talks with UK based telecoms investment fund, Zegona Communications over a deal.
Zegona is reported to have offered in the region of EUR500 million (US$564 million) for the 77 percent stake in Yoigo owned by TeliaSonera. That is lower than the offers the company rejected in the past, but the market has shrunk since then, reducing the value of the company.
Zegona also already owns a landline broadband provider in Spain, Telecable de Asturias, which it bought last year for just over USD700 million.
Teliasonera owns 76.56% of the Spanish mobile network. According to our records, ACS, a construction and services group, has a 17 percent stake, FCC a 3.4 percent stake and Telvent a 3 percent stake.