Orange and MásMóvil close their merger and create the telephone leader in Spain with 37 million lines. The arrival of this new player creates an unprecedented situation in the Spanish market.
For the first time Telefónica is not the company with the most clients, although it comfortably maintains its leadership by revenue. The new company will reveal its strategy and joint brand in the coming weeks and will constitute 50% of the capital for each of the parties. The two parties will be able to execute the option to go public once two years have passed after the closing of the merger.