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Transactions - OCTOBER 3, 2022

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Vodafone agrees to buy MasMovil’s Portugal unit Nowo

by Andrea Zander

British telecom group Vodafone has agreed to buy Portuguese rival Nowo from Spanish operator MásMóvil as part of an expansion plan in the country.

The transaction is worth about €150 million ($147.47 million).

Nowo is the fourth largest operator in Portugal, with about 250,000 mobile phone clients and 140,000 clients for fixed telecom services.

The deal will be finalized in the first half of 2023.

The deal is part of a wider consolidation process in the Iberian Peninsula where MásMóvil, owned by private equity investors KKR, Cinven and Providence, is merging with the Spanish unit of French operator Orange Group to create the largest operator in Spain in terms of clients.

“The acquisition of Nowo will allow Vodafone to increase its customer base, as well as its fixed network coverage. The future modernization of the network acquired for the new generation of optical fiber  will benefit current and future users, by guaranteeing the quality

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