Latest news with #MarcMurtra
Yahoo
4 days ago
- Business
- Yahoo
Spain's $5B Telecom Breakup? Telefonica and Masorange Plot Bold Move on Vodafone
Telefonica (NYSE:TEF) and Masorange have kicked off informal discussions about a potential deal for Vodafone Spain, according to people familiar with the matter. While nothing is on paper yet, insiders say one idea being explored involves splitting up Vodafone Spain's fixed-line and mobile or enterprise operationspossibly to dodge antitrust objections. Masorange could also take over the Lowi brand, Vodafone's low-cost unit. The backdrop? Pressure is mounting in Spain's crowded telecom market, and consolidation is starting to look like the only way out. Warning! GuruFocus has detected 9 Warning Signs with TEF. Masorange, formed in 2024 from the 18.6 billion merger between Masmovil and Orange's local business, is now the country's biggest operator by customer base. Vodafone Spain, meanwhile, was acquired by Zegona for 5 billion last year but has continued to strugglepartly due to an aging fiber-optic network. It's already working with Masorange on a fiber venture, but a broader breakup-and-buyout could redraw Spain's telecom map. Telefonica still dominates business services, but Chairman Marc Murtra has made it clear: Europe's telecom players need to bulk up or risk getting left behind. But even if the strategic logic lines up, execution won't be easy. Telefonica's credit rating is hanging at the edge of investment-grade, leaving little room for risky moves. Murtra has said he won't jeopardize that rating, though some sources say creative funding structures might still be possible. A throwback to the 2020 Brazil playbookwhere Telefonica and two rivals jointly carved up Oi SAcould help navigate regulatory obstacles. For now, there's no formal proposal, but if talks progress, this could become one of the boldest moves in European telecom in years. This article first appeared on GuruFocus. Sign in to access your portfolio
Bloomberg
29-05-2025
- Business
- Bloomberg
Telefonica Chairman's M&A Ambitions Face Old Debt Challenges
Telefonica SA 's new chairman is running into an old problem. After the better part of a decade focused on cutting debt, the company still doesn't have the cash it needs to chase deals and growth. The Spanish phone carrier is looking for diverse ways to simplify its structure by buying out partners in joint ventures and reorganizing certain operations to make itself more flexible for potential deals in the European telecommunications industry. Executive Chairman Marc Murtra, who took over in January, has ordered a strategic review to be unveiled in the second half of the year.
Yahoo
15-05-2025
- Business
- Yahoo
Virgin Media O2's Spanish co-owner explores full takeover
Virgin Media O2's Spanish co-owner is said to be exploring a full takeover of the telecoms giant amid a shake-up triggered by Pedro Sánchez, Spain's prime minister. Telefonica, which holds a 50pc stake in VMO2, is exploring plans for a deal that would allow it to buy out its US joint venture partner Liberty Global. Marc Murtra, the Telefonica chairman, has held discussions with advisers though no formal proposals have yet been drawn up, Bloomberg reported. Telefonica could look to take full control of VMO2 as part of a broader effort to build scale across Europe. Discussions over the future of the joint venture come at a critical juncture for the UK's telecoms market. Vodafone and Three are finalising a £15bn merger that will create Britain's largest mobile network operator – with around 27m customers. Meanwhile, the broadband industry is bracing for a wave of consolidation as a slew of challenger providers, known as 'alt nets', struggle to dent BT's dominance in the full-fibre rollout. VMO2, which has more than 45m mobile and broadband customers in the UK, was formed through a £31bn mega merger in 2021. However, Telefonica has since written down its stake and the future of the joint venture has been plunged into uncertainty as the Madrid-based telecoms company carries out a sweeping strategic review. Mr Murtra initiated the review after he was installed by the Spanish government, which holds a 10pc stake in Telefonica, following the shock ousting of long-serving boss José María Álvarez-Pallete earlier this year. The upheaval has already led to Liberty Global halting the search for external funding for VMO2's new wholesale division, which was supposed to launch in the first half of the year but has now been delayed. A lock-up period stipulated under the terms of VMO2's 2021 merger has now expired, meaning either company can initiate a stock market float. Emilio Gayo, Telefonica's chief operating officer, said: 'We're very happy with the current situation. The joint venture is working very well, we don't have any proposals on the table to change that situation at the moment. 'Both companies, Liberty and Telefonica, are trying to find the best ways to develop the business.' It is unclear how any deal initiated by Telefonica would handle VMO2's debt pile of close to £22bn. Telefonica itself had net debt of €27bn (£22.7bn) at the end of the first quarter. Liberty Global is also thought to have considered spinning off VMO2, similar to its recent listing of Swiss telecoms operator Sunrise. VMO2 and Liberty Global declined to comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
07-05-2025
- Business
- Bloomberg
Telefonica Is Said to Weigh Revamp of Its Technology Unit
Telefonica SA is drafting plans to revamp its technology business, as part of a broader strategic review of Spain's largest carrier, according to people familiar with the matter. Several executives are unhappy with the performance and contribution of the Telefonica Tech unit, which offers cybersecurity, cloud, AI and other services to businesses, said the people, who asked not to be identified because the discussions aren't public. Chairman Marc Murtra, who joined in January, is unimpressed with the unit, two of the people said.
Reuters
25-04-2025
- Business
- Reuters
Indra considers taking over Spanish defence contractor Escribano M&E, Expansion says
MADRID, April 25 (Reuters) - Spanish defence technology company Indra ( opens new tab is considering taking over Escribano M&E, a Spanish company owned by the family of Indra's executive chairman Angel Escribano, Expansion newspaper reported Wednesday, citing unnamed market sources. Escribano M&E, an engineering company also active in the defence sector, which owns a 14.3% stake in Indra according to LSEG data, would be valued at as much as 1 billion euros ($1.13 billion), the sources told Expansion. Indra, which is 28% owned by the Spanish state-owned fund SEPI, is set to benefit from the government's plan to increase defence spending by more than 10 billion euros this year. Its shares rose 61% so far this year. Angel Escribano was picked to head Indra after Marc Murtra, its former top executive, was appointed executive chairman of telecom giant Telefonica ( opens new tab. ($1 = 0.8825 euros)
