CORPORATE FORTUNES

Masmovil Eyes €28M Savings From Wholesale Deal

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Spanish operator Masmovil updated the terms of a wholesale agreement with Telefonica, cutting the cost paid per GB for data access in exchange for minimum spend commitments.

In a stock market filing, Masmovil estimated the new deal would deliver annual pre-tax reductions of €28 million from fees related to access, transmission and its national roaming agreement. In return, the operator committed to spend a minimum of €100 million with Telefonica for the next five years.

The level of savings achieved by the new deal are contingent on Masmovil achieving its expected growth rate to meet spending obligations, CEO Meinrad Spenger  added.

Changes to the existing agreement include: a reduction in data costs per GB; various amendments to residential fibre agreements; updated mobile backhaul terms; and the transfer of Lycamobile Spain mobile lines to Masmovil’s network, a unit the latter completed the acquisition of earlier this month.

The move comes as Masmovil’s future is the subject of intense speculation with the operator the subject of a takeover bid for almost €3 billion. The offer from a consortium of investors was endorsed by the board, but some shareholders have voiced concerns it undervalues the company.  .     https://www.mobileworldlive.com    

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