Spanish telecom operator MasOrange and Vodafone España, S.A.U., controlled by Zegona Communications Plc, are among the contenders to acquire smaller telecommunications competitor Excom. This is reported by foreign media.
The cost of Excom to provide broadband and telephone services in rural areas of Spain is 150 million euros or $175 million.
The largest shareholder of Excom is the Spanish investment company Formentor, which acquired a controlling stake in November 2020. The company's co-founder, Luis Abenza, who owns 24% of the shares, intends to retain senior positions after the deal is concluded.
Excom uses MasOrange's mobile network as part of a wholesale agreement, creating advantages for a larger competitor. For Vodafone España, Excom can be an addition to the low-cost Lowi brand.
MasOrange is a new Spanish operator founded as part of the merger of Masmovil Ibercom SA and the Spanish division of Orange in March 2024. Orange owns 50% of the shares, and the rest is controlled by three investment funds (Cinven, KKR&Co. and Providence Equity Partners). The total subscriber base is 30 million. The company offers mobile communications, broadband Internet access, and television services. The headquarters is located in Pozuelo de Alarcon (Spain).
Zegona Communications is a British investment company for the acquisition and management of assets in the European telecommunications, media and technology sector. The headquarters is located in London (England).
Vodafone España, S.A.U. is a mobile operator in Spain, a subsidiary of Vodafone Group plc. It was founded in 2001 as a result of the merger of shares owned by Vodafone and British Telecom, and Airtel. Vodafone España has been a subsidiary of British Zegona Communications since 2024.
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