Blog

Orange has bought Jazztel

And if today we have seen how Microsoft has bought Minecraft for 2.5 billion dollars, now we see how Orange buys Jazztel for almost double: 3.4 billion euros.

That’s right, Jazztel belongs to Orange, a company that has launched a takeover bid of 13 euros per share.

Recently we saw how in Spain Vodafone bought Ono for 7,000 million euros, now it is Orange who makes the offer with a premium of 8% on the price at which the Jazztel listing was suspended yesterday (34% on a weighted average of the last 30 sessions). It seems that the concentration of telephones in the country does not end …

Leopoldo Fernndez Pujals, president and first shareholder of Jazztel, has already promised to accept the offer of the French Orange, an offer that will be accepted as long as Jazztel does not buy Yoigo.

The news comes with more conditions, as we can see in the note, although it seems that there will be no problems in meeting them. Orange will increase capital by a maximum of 2,000 million euros and comments that it could generate synergies of 1,300 million from the merger.

It is not the first to see that Orange grows in Spain based on acquisitions, it already did with Ya.com, and it seems that today’s movement makes even more sense, especially when we consider that Jazztel’s shares have increased in value. 54% so far this year, as we see on bloomberg.com

Now we have to wait to see the consequences that this will have for consumers.

Back to top button

Ad blocker detected

You must remove the AD BLOCKER to continue using our website THANK YOU