MásMóvil breaks into the consumer credit sector, which will reach up to 60,000 euros for its clients through MoneyGo.

The operator, which controls the Xfera Consumer Finance company in which Cetelem also participates, is entering into new financial services, which will include another service such as debit cards foreseeably before the end of the year.

The operator will function as a "financial credit institution, regulated and supervised by the Bank of Spain", explained Alberto Navarro, head of Xfera.

MásMóvil also recognizes that "it is on the table to request a banking license", a step that Orange has already taken.

For now, the operator will offer basic services such as a current account.

Telefónica, with Movistar Money, and Orange, with Orange Bank

, are also present in the business of financial loans.

Meinrad Spenger, CEO of MásMóvil, recalled the wide range of

telecom services

he leads ("energy, consumer finance, content, credit cards ...", as he reviewed in the presentation on Wednesday).

Recently, at the beginning of this month of February, the company announced the acquisition of a controlling stake in Energía Colectiva, which operates under the Lucera brand, in a new purchase to strengthen its energy services.

To compete in loans, MásMóvil highlights that it provides an

effective rate or APR of 5.06%,

which would be below those of entities such as Santander or CaixaBank and rivals such as the aforementioned Movistar Money and Orange Bank, according to the telecommunications company. yellow.

However, the credit ceiling is even more striking, which reaches

60,000 euros, well above the amount provided by other competitors

.

Runrún in the sector

Regarding the consolidation rumors, with rumors about negotiations with Vodafone Spain to unify both businesses, Spenger has assured that MásMóvil is not "in a

joint venture

conversation

with anyone", although it has not denied the possibility of using other formulas to consolidate the deal.

Spenger also explained that they were

"disappointed" with the prices of the next spectrum auction for 5G

, a bid that should be carried out at the end of March or the beginning of April, and that would start from a price of 1.17 billion euros.

According to MásMóvil calculations, the price is "twice as high as the final price in Portugal", if the size of both markets were equal, one larger than the other.

"

The exit prices are higher than in other countries

, when we must all work to support the driving sectors of the economy," said Spenger, who also believes that "the obligations of deployment [of network infrastructures] are very high and they should be more reasonable. "

The new owners after the takeover bid

MásMóvil has underpinned a takeover bid for three international investment groups, KKR, Cinven and Providence, which launched a takeover bid for all the operator's shares, valuing the company at 2,963.57 million euros.

The operation was carried out through the company Lorca Telecom BidCo, made up of these three venture capital funds, and is supported by guarantees from Barclays, BNP Paribas and Morgan Stanley.

With MásMóvil's debt of 1,800 million euros, the takeover bid covers a sum of more than 4,800 million euros.

Spenger, as well as the main staff of the board, remain in the management of the company.

The operator has been strengthening with different purchases in recent years: Pepephone for 158 million, Yoigo for 612 million, Llamaya for 41.7 million and Lebara for 55. Recently, the company seems focused on a diversification of its businesses and on the study of consolidation options to concentrate the competitive telecommunications market in Spain.

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