The Fiberco de Masorange and Vodafone was expected to have a great impact on the telecommunications market and, forecasts are being fulfilled. While looking for an investor made with a percentage of the company, the Alliance has already encountered the interest of a large amount of top -level investment funds.
The Masorange and Vodafone alliance is called to reach a high repercussion level. Not surprisingly, this joint society has resulted in the fiber optic company with the highest volume in the country. With more than 12 million houses covered, this fiberco does not stop starring headlines. But, for the moment, it still needs to find that investor that is so necessary for the plans of both operators to continue.
The race begins
This is a very important moment for the new company, since the sale process of 40% of it is capturing the interest of some of the most important infrastructure funds in the market. The proposal that the alliance is making is clear: to give an important piece of the organization, but leaving the majority control over the responsibility of Masorange. Vodafone, as has also happened in the Alliance with Telefónica, will have only a small percentage. Of course, a percentage that will provide an important income and an amount provided by the investor that will come from pearls to reduce debt.
Among the investment groups that have shown interest in the Fiberco de Masorange and Vodafone sound as relevant names as those of Apollo, Kkr, Blackstone, CPPIB or Brookfield. Other groups are also in the list of candidates for the acquisition of other groups, such as CDPQ, Digital Bridge, GIP and GIC. It is undoubtedly appreciated that the operation is awakening the interest of some of the most important players in the market. And that, without any doubt, are good news for the alliance formed by the two operators.
4,000 million euros are expected
If we take into account that the value of the joint company is stipulated in a figure that is between 9,000 and 10,000 million euros, it is understood that the investment forecast will be around 4,000 million euros. However, for now the sales process is in the hands of BNP Paribas, which was the entity that Masorange chose to take care of one of the most important operations that have been registered in the market in recent years.
Around 15 groups, among which the names that have transcended in fifty and that we have mentioned before, would have signed their respective confidentiality agreements in order to participate in the operation. At the moment, everything would be in the phase of providing non -binding offers that would help to start drawing the path on which the sales process could advance. Anyway, it would still be to see which entity ends up with that 40% that would be complemented with 50% of Masorange and 10% of Vodafone.
Some names cause special interest in their impact not only on the international market, but also in Spanish. Blackstone, for example, is known for having the property of CIRSA, while Apollo has an impact on its presence in the elderly. In addition, it is also commented that it could be taking part in Operation KKR, something that would make a lot of sense, since they have a significant amount of MasMóvil actions. In addition, KKR also has a presence in the fiber sector because, years ago, he made the acquisition of Reintel.
It is still early to know how the sales operation will end, but in view of the interest generated by the operation, it is most likely that Masorange and Vodafone manage to close the sale in a very convenient way.
