Consolidation on the Spanish cable market continues with Basque operator Euskaltel planning to acquire R cable for €1.2 billion.
The deal follows Vodafone’s acquisition of cable operator Ono and Orange’s Jazztel take over.
Euskaltel offered shareholders in R Cable cash and new shares. The combined operators will serve 715,000 residential and business customers in the north of the country, with R Cable being active in Galicia and Euskaltel in Basque country. The merged operator will continue to separate under two separate brands.
“The transaction makes important strategic sense as a key step for the consolidation of cable operators in northern Spain,” Euskaltel Chief Executive Officer Alberto Garcia Erauzkin and Grupo R Chairman Honorato Lopez said in a joint statement.
