If a few days ago we talked about the future of Vodafone Spain. Now, we know the first interested in buying the fiber and cable network of the red operator in our country. They even have already prepared the offers that they will make to the telephone company with headquarters in the United Kingdom to fully launch itself into the fixed broadband network of one of the large operators in Spain.
Although many bet on the option that Vodafone Spain was going to renew its fixed network, the truth is that one of the best alternatives that it had, and continues to have, on the table is the sale of its fiber and cable network to other companies . But who are the stakeholders?
4,000 million euros for its fixed network
The Australian global investment and financial services fund Macquarie Capital, which is the main shareholder of the Onivia telecommunications company, and the private equity investment company Ardian, owner of Adamo Telecom, are the first interested in buying Vodafone’s fixed broadband in Spain. In fact, it is already known, as reported by elEconomista, what is the first bid they have on the table for the red operator.
As we already knew, among Vodafone’s options was the sale. And it is not the first to consider this, since, in the past, it has already done so. Specifically, the sale of the Vodafone subsidiary to MásMóvil was considered, during February and March 2022. However, the agreement between the two telephone companies came to nothing. However, the possibility of selling Vodafone Spain is, right now, the best alternative.
And more taking into account the offer of 4,000 million euros. An operation for which the United States bank Everco has the order of the red operator for when the possible closing of the operation arrives. Basically, that amount of money is the value of Vodafone’s assets in our country.
It is unknown which of the two bidders for Vodafone’s broadband has more tickets to win the fiber and cable network. Although, it must be said that both Macquarie and Ardian are very well positioned.
Vodafone’s fixed broadband
If the definitive sale of Vodafone Spain’s fixed fiber and cable network is closed, we would be facing one of the great news. Apart from the well-known merger of Orange and MásMóvil that has yet to materialize in the absence of authorization from the European Commission.
More than anything, because we are dealing with an Internet access infrastructure that has a deployment of 10.5 million real estate units. Of these units, 7 million correspond to its HFC cable network (hybrid coaxial fiber) and the remaining 3.5 million are from its fiber optic network to the home (FTTH).
Therefore, the option to modernize the fiber network is the least likely. Now it remains to be seen if, after selling its fixed network, Vodafone will continue to operate in Spain using Movistar or Orange’s fixed broadband. However, the option of integrating the red operator into another wholesale fiberco should not be ruled out either.
Although, it must be borne in mind that it is quite likely that more suitors will continue to appear for the fixed network of the red operator. Such as infrastructure funds such as the Canadian Brookfield and the French Vauban and insurers such as AXA, Allianz or Swiss Life. This situation may be decided at the same time that we learn of the final authorization from the European Commission for the merger of Orange and MásMóvil.
