• Companies Operators launch into finance: MásMóvil will offer loans of up to 60,000 euros

Grupo MásMóvil

has launched a public acquisition offer (OPA), through its subsidiary

Kaixo Telecom

, for 100% of the shares of

Euskaltel

for a maximum amount of 2,000 million euros in cash.

The offer, which has been communicated this Sunday to the

National Securities Market Commission (CNMV),

yields a price of 11.17 euros per share, which represents a premium of 26.8% compared to the weighted average price of the shares in the last 6 months.

The offer, of a "friendly and voluntary" nature, is conditional on achieving "the acceptance of

at least 75% plus one share of the capital

and obtaining all the appropriate competition and regulatory authorizations. Although the offer is not a Exclusion tender offer, MásMóvil intends to promote the exclusion of Euskaltel's shares from the Stock Exchanges from trading.

In addition, it already has the

essential backing of 52.32% of Euskaltel's share capital

, since its main shareholders, Zegona Limited (through its parent company, Zegona Communications), Kutxabank and Alba Europe have agreed to accept the same through irrevocable agreements reached with MásMóvil.

STRENGTHENS YOUR POSITION AS A FOURTH OPERATOR

If the offer materializes, Grupo MásMovil will thus strengthen "its position as the

fourth operator

and the one with the highest growth in the telecommunications market in Spain," the statement said.

It also highlights that Euskaltel is the benchmark operator in the North of Spain and offers a wide range of services and solutions to its

840,000 residential and business customers

.

Its brands,

Euskaltel in the Basque Country, R in Galicia and Telecable in Asturias

, have been in the market for more than 25 years and "are one of the leading operators in convergent telecommunications services in their respective territories".

In addition, through the Virgin telco brand, Euskaltel has recently started its national expansion strategy.

IT WILL MAINTAIN THE HEADQUARTERS IN THE BASQUE COUNTRY AND GALICIA

MásMóvil has announced that it will keep the Euskaltel, R, Telecable and Virgin brands, employment and social headquarters in Euskadi and

Galicia

.

The company has also reiterated its "strong" commitment to the Basque Country, Galicia and Asturias, where it

plans to invest in 5G and fiber optics

, while promoting the company's growth plans.

Furthermore, MásMóvil highlights that the two companies are very complementary in infrastructure assets at a geographic level, since they combine Euskaltel's regional focus with the growth dynamics of the MásMóvil Group throughout the national territory.

26 MILLION HOUSEHOLDS CONNECTED WITH FIBER

The sum of MásMóvil together with Euskaltel will give rise to a group with nearly

14 million lines

, estimated revenues of approximately 2,700 million euros,

26 million homes connected with fiber

, and more than 1,500 employees, with a strong presence throughout the national territory and capable of facing the heavy investments necessary to continue competing in the Spanish telecommunications market.

On the part of MásMóvil, this process has had the legal advice of

Clifford Chance

,

Castañeda Abogados and Evergreen Legal,

and

BNP Paribas, Goldman Sachs and Barclays

have acted as financial advisers

.

For its part, Euskaltel has counted on Citigroup Global Markets Europe AG, as financial advisor, and Uría Menéndez, as legal advisor.

The operation has been financed by a syndicate of banks including BNP Paribas, Banco Santander, Barclays, Deutsche Bank and Goldman Sachs.

STRENGTHEN AND BOOST YOUR GROWTH

The CEO of the MásMóvil group,

Meinrad Spenger

, pointed out that the announced operation "advances the growth of the sector in Spain and is good both for Euskaltel shareholders and their employees and, above all, for its customers, since they are going to to be able to benefit from access to our fiber and mobile infrastructure, as well as from

increased investments

in the territories in which it operates. "

"In addition, this acquisition will allow MásMóvil to strengthen and boost its growth and continue transforming the telecommunications sector in Spain," he added.

According to the criteria of The Trust Project

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