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Reports Masorange and Zegona To Form Joint Broadband Netco; Sell Stakes To Deleverage

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  • Not a spread mover but an interesting development in the Spanish telco landscape and another example of telcos looking to offload fixed assets to reduce debt.
  • Expansión reports that Masorange and Vodafone-Zegona, are negotiating a joint broadband network company in Spain. The new company could handle 10-11mn broadband connections, making it one of Spain's largest, similar to Onivia.
  • Each operator would contribute assets and customers. The goal is to sell a stake in the Netco to infrastructure investors to reduce their high debt levels.
  • Once a stake is sold, the setup would see Masorange as the main shareholder, with Vodafone holding a smaller stake.
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