\"\"
<\/span><\/figcaption><\/figure>By Inti Landauro and Isla Binnie

MADRID: KKR, Cinven and Providence said on Monday they had made a 2.96 billion euro ($3.3 billion) board-backed bid for Spanish telecoms operator MasMovil<\/a>.

In the first European take-private attempt by major buyout firms since the
coronavirus crisis<\/a> struck, the private equity trio said holders of 29.56% of MasMovil<\/a>'s stock had already agreed to sell for 22.50 euros per share.

Providence is MasMovil's second-largest shareholder, with a 9.16% stake in the seller of fixed line, mobile and
Internet services<\/a> which has made a series of acquisitions since listing on Madrid's index for smaller, growing companies in 2014.

All three funds will end up with an equal stake in MasMovil if the deal goes through, and Providence has agreed not to accept a counter-bid from any other would-be buyer, the offer document said.

The operator's shares soared on the opening and were still the leading gainer on Spain's main index at 1200 GMT, at around 23 euros, some 23% higher than Friday's close.

MasMovil has built up a position in the fiercely competitive Spanish market in recent years by buying lower-cost brands Pepephone and Yoigo. If successful, its sale would follow hot on the heels of Telefonica's deal to merge its British business with Liberty Global's
Virgin Media<\/a>..

European telecoms operators have struggled to boost profit growth in a crowded market and in Spain, Euskaltel has launched a new national service under the Virgin brand to take on Telefonica, France's Orange and Britain's
Vodafone<\/a> as well as MasMovil.

MasMovil Chief Executive Meinrad Spenger said in a statement it had signed an agreement with the bidders on a deal which he said would be \"beneficial for the shareholders and other stakeholders in the company\".

It added the bidders had said they would maintain continuity in MasMovil's strategy, staff and executive team.

Although the offer price is well below a five-year high of 25.52 euros hit in March 2018 and 23.68 late last year, it still values the company at a premium of around 20% to its closing price on Friday.

MasMovil's shares dropped to 12.20 euros in March when Spain was reporting hundreds of coronavirus deaths each day.

The bid for MasMovil is conditional on acceptance from at least 50% of shareholders, the funds said.

A source familiar with the transaction said telecoms companies already active in Spain may step in and offer a higher premium to take control of MasMovil based on the synergies the deal would unlock.

Yet analysts have cautioned that any interloper would face resistance from Providence.

Goldman Sachs and BNP Paribas advised MasMovil while Morgan Stanley and Barclays represented the private equity consortium and guaranteed financing for the deal along with BNP, two sources close to the deal said.
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西班牙电信运营商MasMovil同意33亿美元的私人股本竞购

KKR Cinven以及普罗维登斯周一表示他们犯了一个29.6亿欧元(合33亿美元)的西班牙电信运营商MasMovil board-backed竞标。

  • 更新在2020年6月1日09:47点坚持
阅读: 100年行业专业人士
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马德里:KKR, Cinven以及普罗维登斯周一表示他们已经出价29.6亿欧元(合33亿美元)board-backed西班牙电信运营商MasMovil

在第一个欧洲的私有化以来主要收购公司冠状病毒危机,私人股本三说29.56%的持有者MasMovil的股票已经同意出售为每股22.50欧元。

普罗维登斯是MasMovil的第二大股东,持有9.16%的股份卖方固定线,移动和互联网服务以来已经进行了一系列的收购清单在马德里的指数小,日益增长的公司在2014年。

广告
这三个基金将得到同等股份MasMovil如果交易进展顺利,和普罗维登斯同意不接受还价从任何其他潜在买家,提供文档表示。

运营商的股价飙升开幕式和仍主要获得者对西班牙的主要指数1200 GMT,在约23欧元,一些比上周五收盘价高出23%。

MasMovil已经建立了一个位置在市场竞争激烈的西班牙近年来通过购买低成本品牌Pepephone和Yoigo。如果成功,其销售将跟随继西班牙电信的合并其英国业务处理全球的自由维珍媒体. .

欧洲电信运营商都在努力推动利润增长在一个拥挤的市场,在西班牙,Euskaltel已经启动了一个新的国家电信服务维珍的品牌,法国的橙色和英国的沃达丰(Vodafone)以及MasMovil。

MasMovil首席执行官Meinrad Spenger在一份声明中表示,已与投标人在协议签署了一项协议,他表示将“有利于公司的股东和其他利益相关者”。

它添加了竞购者表示,他们会保持连续性MasMovil的策略,工作人员和管理团队。

虽然报价远低于2018年3月触及的五年高位25.52欧元和23.68去年晚些时候,它仍然值公司溢价上周五收盘价低20%左右。

广告
MasMovil股价跌至12.20欧元当西班牙3月报告每天成百上千的冠状病毒死亡。

竞购MasMovil条件在接受至少50%的股东,基金说。

一位知情人士透露,这笔交易已经活跃在西班牙电信公司表示会介入并提供更高的溢价控制MasMovil基于协同效应,这笔交易将解锁。

但分析人士警告称,任何闯入者将从普罗维登斯面临阻力。

高盛(Goldman Sachs)和法国巴黎银行(BNP Paribas)建议MasMovil虽然摩根士丹利(Morgan Stanley)和巴克莱(Barclays)代表的私人股本财团和担保融资交易以及法国巴黎,两个接近交易的消息人士表示。
  • 发表在2020年6月1日09:43点坚持

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\"\"
<\/span><\/figcaption><\/figure>By Inti Landauro and Isla Binnie

MADRID: KKR, Cinven and Providence said on Monday they had made a 2.96 billion euro ($3.3 billion) board-backed bid for Spanish telecoms operator MasMovil<\/a>.

In the first European take-private attempt by major buyout firms since the
coronavirus crisis<\/a> struck, the private equity trio said holders of 29.56% of MasMovil<\/a>'s stock had already agreed to sell for 22.50 euros per share.

Providence is MasMovil's second-largest shareholder, with a 9.16% stake in the seller of fixed line, mobile and
Internet services<\/a> which has made a series of acquisitions since listing on Madrid's index for smaller, growing companies in 2014.

All three funds will end up with an equal stake in MasMovil if the deal goes through, and Providence has agreed not to accept a counter-bid from any other would-be buyer, the offer document said.

The operator's shares soared on the opening and were still the leading gainer on Spain's main index at 1200 GMT, at around 23 euros, some 23% higher than Friday's close.

MasMovil has built up a position in the fiercely competitive Spanish market in recent years by buying lower-cost brands Pepephone and Yoigo. If successful, its sale would follow hot on the heels of Telefonica's deal to merge its British business with Liberty Global's
Virgin Media<\/a>..

European telecoms operators have struggled to boost profit growth in a crowded market and in Spain, Euskaltel has launched a new national service under the Virgin brand to take on Telefonica, France's Orange and Britain's
Vodafone<\/a> as well as MasMovil.

MasMovil Chief Executive Meinrad Spenger said in a statement it had signed an agreement with the bidders on a deal which he said would be \"beneficial for the shareholders and other stakeholders in the company\".

It added the bidders had said they would maintain continuity in MasMovil's strategy, staff and executive team.

Although the offer price is well below a five-year high of 25.52 euros hit in March 2018 and 23.68 late last year, it still values the company at a premium of around 20% to its closing price on Friday.

MasMovil's shares dropped to 12.20 euros in March when Spain was reporting hundreds of coronavirus deaths each day.

The bid for MasMovil is conditional on acceptance from at least 50% of shareholders, the funds said.

A source familiar with the transaction said telecoms companies already active in Spain may step in and offer a higher premium to take control of MasMovil based on the synergies the deal would unlock.

Yet analysts have cautioned that any interloper would face resistance from Providence.

Goldman Sachs and BNP Paribas advised MasMovil while Morgan Stanley and Barclays represented the private equity consortium and guaranteed financing for the deal along with BNP, two sources close to the deal said.
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