Orange, MasMovil to Sell Spectrum Licenses to Digi as Remedy for Spain Merger
By Adria Calatayud
Digi Communications has agreed to buy telecommunications-spectrum licenses in Spain from MasMovil as part of remedies for the proposed combination between MasMovil and Orange's Spanish business.
Romanian telecommunications operator Digi said Tuesday that it agreed to buy the licenses for 120 million euros ($129.2 million), including a conditional component of EUR20 million.
In the context of remedies to get European Union approval for the Orange-MasMovil deal in Spain, Digi said it also agreed to an option to enter in the future into a wholesale mobile-services agreement with Orange.
The news was first reported by Spanish business newspaper Expansion. Orange decline to comment when contacted by Dow Jones Newswires about the article. MasMovil didn't respond to a request for comment.
Digi said the transfer of the spectrum licenses and the grant of the option are subject, among others, to completion of the transaction between Orange and MasMovil, which requires EU approval.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
December 12, 2023 11:34 ET (16:34 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks