French telco Orange and Spanish operator MasMovil have been granted permission by the European Commission to merge their operations.
The clearance came after the two agreed to divest 60MHz of spectrum assets to rival Digi and proposed an optional national roaming agreement at market conditions.
Orange and MasMovil now plan to complete the transaction by end Q1 2024.
The 50:50 joint venture will bring together the assets, capabilities and teams of the two companies in Spain, serving 7.3m fixed-line customers, 30m mobile services and 2.2m TV customers.
Christel Heydemann, CEO of Orange, commented: “Today’s announcement is a crucial moment for the future development of the Group in Europe. Our proposed Joint Venture with MASMOVIL will create a single, stronger, and more sustainable player in Spain. By joining forces, we can scale, we can innovate, and we can drive investment in Spain for the benefit of consumers and businesses.”
Meinrad Spenger, CEO of MasMovil, added: “All good things are worth waiting for! We are thrilled to assume a relevant role in the Spanish telecommunication sector. Our exceptional team is committed to forming a unified and distinctive company capable of delivering positive impact and providing a trustful service to the most satisfied clients in Spain.”
Some final approvals are required by the Spanish government, which are expected by the end of the first quarter, until then the two companies will continue to operate independently.
