MASMOVIL Group strengthens its commercial positioning with the acquisition of the mobile operator “Lebara España”
21 Noviembre 2018 - 07:06AM
MASMOVIL Group strengthens its commercial positioning with the
acquisition of the mobile operator “Lebara España”
MASMOVIL Group strengthens its commercial
positioning with the acquisition of the mobile operator “Lebara
España”
- With this acquisition, MASMOVIL Group strengthens its
leadership in the ethnic segment with a new prestigious brand.
- MASMOVIL estimates that the incorporation of Lebara España to
MASMOVIL Group will allow it to obtain operating synergies (mainly
through reduction of OMV Contract costs) that will result in EBITDA
post-synergies of c24M€.
- MASMOVIL Group continues consolidating its position as
the fourth Spanish telecommunications operator with more than 7,5
million of clients
Madrid, November 21st, 2018.-
After reaching an agreement with Lebara´s shareholders, MASMOVIL
Group has announced today the acquisition of the mobile operator
“Lebara España”, that will allow the Company to strengthen its
commercial position and to continue leading the market growth of
the telecommunications in Spain.
MASMOVIL will pay a maximum amount of 55M€,
including a 50M€ cash payment and certain compromises with clients
and employees for 2.5M€, having also agreed an earn-out of up to
2.5M€ depending on the success of the migration process of the
client base to MASMOVIL’s network. The total cash consideration
would thus result in an EV/EBITDA multiple of 7.5x presynergies and
2.3x post-synergies, assuming all contingent payments are
materialized.
"Lebara Spain" is a virtual mobile operator that
uses Vodafone´s network -an agreement which ends in the second
quarter of 2019 – specialized in the prepaid segment, mainly to
immigrants. The company, which registered revenues of 50M€ in the
last twelve months, has more than 420.000 pre-paid customers with a
high level of loyalty.
This new transaction allows MASMOVIL Group to
obtain significant advantages, as, the contribution to lead the
ethnic segment by acquiring a prestige brand, and once it is
incorporated into the MASMOVIL Group network and thanks to its
national roaming agreement, a significant potential for improving
the profitability of "Lebara Spain" will be generated, resulting in
an approximate EBITDA around 24M€ taking into account the last 12
months revenues.
Following this acquisition, MASMOVIL Group
continues consolidating its position as the fourth
telecommunications operator in Spain with more than 7.5 million
customers.
"This operation is very important for us because
it allows us to reinforce our leadership in a market segment where
we already had an important position with our brand Llamaya", said
Meinrad Spenger, CEO of MASMOVIL Group. "The customers of Lebara
Spain will soon enjoy the advantages of being part of MASMOVIL
Group and of the most satisfied customers in the Spanish market,"
he added.
About MASMOVIL Group
MASMOVIL Group is the fourth largest converging
telecommunications operator in Spain that provides fixed, mobile
and broadband Internet services for residential, business and
Wholesale, through its main brands: Yoigo, Pepephone, MASMOVIL,
Lebara and Llamaya.
The group relies on a fiber/ADSL network for
broadband and 3G and 4G network for mobile telephony. At present,
it has more than 14,4 million fiber households and reaches 18
million homes with ADSL. The companies’ 4G mobile network covers
98,5% of the Spanish population. The Group has 7,5 million
customers in Spain.
MASMOVIL received the award for the best fixed
broadband operator by Grupo ADSL Zone, and the award for best fiber
operator by the website, Grupo Informático, in 2017.
Additionally, it is the operator with the
fastest fiber network in Spain according to a study by the company,
nPerf, and the operator with the fastest 3G+4G aggregated mobile
network in Spain, according to a study by the company, Tutela.
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