Clifford Chance and Cuatrecasas advise on €612m Masmovil-Yoigo deal

Clifford Chance advised Masmovil Ibercom on its acquisition of mobile carrier Yoigo from Telia AB.

Telia AB was advised by Cuatrecasas Gonçalves Pereira and KPMG Abogados on the deal.

Masmovil also instructed Madrid-based Evergreen Legal on the transaction, which was valued at €612 million, according to Mergermarket.

Yoigo has approximately 3.3 million subscriptions and a market share of 7 per cent in Spain.

Publicly listed in Spain since 2012, Masmovil is a telecommunications operator that serves nearly one million residential customers and 26,000 businesses.

The deal is subject to approval from the Spanish competition authorities and is expected to close during the third quarter of 2016.

“The divestment of Yoigo is an important milestone in our ambition to increase focus on our operations in the Nordics and Baltics,” said Johan Dennelind, Telia’s president and CEO.

“I am happy that we have an agreement with Masmovil, who will be able to leverage a small but great and agile team into a combined unit, creating an even stronger challenger in the Spanish market.”