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June 1, 2020, 10:45 a.m. EDT

Spain’s MasMovil gets $3.3 billion KKR-led private buyout offer

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By Barbara Kollmeyer, MarketWatch


MasMovil
Meinrad Spenger, CEO of MasMovil

Shares in MasMovil Ibercom SA climbed 22% on Monday after the Spanish telecom said it has received a $3.3 billion (€2.96 billion euro) buyout offer from a private-equity consortium.

MasMovil  was the best-performing stock on the IBEX 35 index /zigman2/quotes/210597995/delayed XX:IBEX -0.16% , which rose 1.7% against a backdrop of rising European stock markets.

In a statement , Meinrad Spenger, chief executive of MasMovil said the offer from Lorca Telecom, a consortium comprising buyout private-equity firms Providence Equity, Cinven Capital Management and Kohlberg Kravis Roberts & Co. would be “beneficial for the shareholders and other stakeholders in the company.”

Should the offer be successful, MasMovil’s strategy and business plan, along with employees and management team will remain the same, said Spenger. The company owns Yoigo, Pepephone, Llamaya y Lebara brands.

In annual results released in February before Spain locked down for the pandemic, MasMovil reported total revenue of €1.7 billion, and 8.9 million customers for the group overall, of which 1.5M are fixed broadband and 7.4 million are mobile.

According to Moody’s Investors Service, MasMovil is the fourth biggest operator in Spain, competing with France’s Orange /zigman2/quotes/201008076/delayed FR:ORA +0.36%  , Telefonica’s Movistar /zigman2/quotes/207034643/composite TEF +0.79%   /zigman2/quotes/200416613/delayed ES:TEF +0.46%  and U.K.-based Vodafone /zigman2/quotes/202862751/composite VOD +1.31%   /zigman2/quotes/202484985/delayed UK:VOD -0.07%  .

/zigman2/quotes/210597995/delayed
XX : Spain: Madrid
9,045.90
-14.30 -0.16%
Volume: 0.00
Jan. 30, 2023 11:45a
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/zigman2/quotes/201008076/delayed
FR : France: Euronext Paris
9.58
+0.03 +0.36%
Volume: 907,535
Jan. 30, 2023 11:45a
P/E Ratio
6.04
Dividend Yield
7.31%
Market Cap
€25.38 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207034643/composite
US : U.S.: NYSE
$ 3.84
+0.03 +0.79%
Volume: 1.20M
Jan. 27, 2023 4:00p
P/E Ratio
270.42
Dividend Yield
3.02%
Market Cap
$21.76 billion
Rev. per Employee
$410,097
loading...
/zigman2/quotes/200416613/delayed
ES : Spain: Madrid
3.50
+0.02 +0.46%
Volume: 2.17M
Jan. 30, 2023 11:45a
P/E Ratio
124.89
Dividend Yield
6.86%
Market Cap
€20.07 billion
Rev. per Employee
€378,944
loading...
/zigman2/quotes/202862751/composite
US : U.S.: Nasdaq
$ 11.61
+0.15 +1.31%
Volume: 5.14M
Jan. 27, 2023 4:00p
P/E Ratio
14.44
Dividend Yield
7.65%
Market Cap
$31.39 billion
Rev. per Employee
$479,477
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/zigman2/quotes/202484985/delayed
UK : U.K.: London
93.35 p
-0.07 -0.07%
Volume: 11.67M
Jan. 30, 2023 10:45a
P/E Ratio
14.89
Dividend Yield
8.46%
Market Cap
£25.40 billion
Rev. per Employee
£375,003
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Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer.

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