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Vodafone in bid to buy Spain's Yoigo

Source: Sunday Times - Mon 25th Feb 2013
Vodafone in bid to buy Spain's Yoigo

The Sunday Times has reported how Vodafone is preparing a takeover bid for Spanish mobile phone provider Yoigo.

The newspaper cites unnamed sources as saying Yoigo has 3.5 million subscribers and that it could fetch bids worth between 750 million and 1 billion.

Yoigo has been put back on the block by TeliaSonera, a Nordic telecommunications company, which shelved an auction of the business last year after bids fell short of its 1 billion target.

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Vodafone faces competition from France Telecom - who operate Orange - and Spain's Telefonica for the company, the report said.

A Vodafone spokesman couldn't be immediately reached for comment.

A recent report on the Spanish Telecommunications sector by Industry regulator, the CMT, revealled how Spain lost 2.7 Million mobile connections in 2012 alone - forcing the industry into a price war.

The study also revealed how Yoigo, the smallest of Spain's 'big 4' providers, alone emerged victorious in increasing market share at the expense of Telefonic, Vodafone and to a lesser extent, Orange.

Over recent weeks Vodafone and Orange have both offered a variety of new tariffs in a bid to win back mobile phone connections, whilst Telefonica have shown their usual disdain for consumers.

Comment on this Story

 
NOOOOOOOOOOOOOOOOOOOOOOO...! Yoigo provides an excellent service - Vodafone is absolute crap.
David - Mon, 25th Feb 2013

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