Orange Denies Euskaltel Bid Rumors
Orange Group ruled out the acquisition of a stake in regional Spanish MVNO and fixed operator Euskaltel, Europa Press reported.
Euskaltel operates fiber and TV services in northern Spain along with virtual mobile service running on Orange Spain’s network. It has 6 million customers across its divisions, its own figures show.
Reports in the Spanish press last month suggested Orange had appointed Credit Suisse to assess a potential bid for the operator. Orange subsequently denied it planned a full takeover, but did not rule out buying a stake or forming a partnership.
However, in a statement reported by Europa Press (6 February), Orange said it does not plan to make any investment in the operator, but was “always analyzing” options to grow its business in Spain.
Spain is Orange’s second-largest market where it has been actively promoting converged packages for a number of years. The company is also preparing to launch its banking service in the country later this year.
In October 2018, Orange Group CEO Stephane Richard said the company was facing “aggressive moves” from competitors in Spain, as rivals increased investment in fiber and TV to offer converged packages―Mobile World Live
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