The new company will have an infrastructure that will cover up to 11.5 million real estate units. The largest deployment in our country, surpassing the company in second place by more than a million units. We tell you all the details and the future plans they hope to achieve.
MasOrange and Vodafone They are just a few days away from signing a binding agreement that will allow them to create what will be the largest fiber company in Spain. It is estimated that it will have an infrastructure capable of supporting up to 11.5 million homes, just as Expansión announced a few minutes ago.
As had already been announced when news that advanced this operation began to leak, once the creation of this new company is made official, the next step will be to look for a financial partner or partners to take the lead. 40% of the capital.
The new company will lead the fiber market in Spain
The resulting company will be the largest wholesale fiber operator in our country. The size of its infrastructure will allow it to overtake Onivia, which after purchasing part of Digi’s fiber network had a little more 10 and a half million of covered homes. The company that will emerge after the operation is signed will offer its services to a million more customers, in a new movement that will shake the telecom sector.
From the first moment information began to be obtained about this operation, it was estimated that the project would have a value that would range between 7,000 and 10,000 million euros, including the debt contracted. However, as the negotiations have progressed, the figure has been reduced to between 8,000 and 9,000 million euros, in the absence of officially knowing details.
Objective: reduce debt
According to the information published by the aforementioned media, the search for a new financial partner to enter the company will probably begin at the beginning of 2025. The objective pursued through the sale of the stake reduce debt from both MasOrange and Vodafone Spain. This move will allow neither of them to have more than 50%, so they will not consolidate the subsidiary’s debt on their balance sheets.
It is estimated that Vodafone Spain It expects to obtain an amount of around 1.3 billion euros with the operation, while MasOrange will earn considerably more, reaching 3.2 billion euros. The difference is explained by the contribution that both companies make to this new company: the red operator will have 30%, while MasOrange will have 70% of the capital.
This unequal distribution is due to the number of clients that both companies will transfer to the resulting company, which are the ones that allow the business plan to be supported. Once the investment partner is found to accompany them in the operation, the objective is for MasOrange to remain as wholesale partnerfollowed by the new investor and, lastly, Vodafone, which will have a final 10%, approximately.
