The Spanish mobile provider Mámovil buys 100 percent of Yoigo and becomes the fourth largest mobile provider in Spain.
After the purchase only Telefonica, Vodafone and Orange are larger. The purchase price is based on a debt-free value of € 625 million for 100 percent of Yoigo. Telia’s share is 76.6 percent, which equates to € 479 million.
Telia’s sales of Yoigo is expected to generate a gain of more than € 420 million for Telia. The agreement is subject to approval from the Spanish competition authorities, CNMC, and is expected to be finalized in the third quarter of 2016.
Telia Company and the minority shareholders are entitled to a compensation of 30 million euros if the sale is not completed.