Vodafone Portugal has entered into an agreement to purchase the Nowo operation, the mobile operator announced this Friday in a statement.
“Vodafone Portugal (“Vodafone”) entered into an agreement with Llorca JVCO Limited, shareholder of Másmóvil Ibercom, SA (“Másmóvil”), for the purchase of the company Cabonitel SA, owner of Nowo Communications (“Nowo”), which is subject to the necessary regulatory approval”, announced the company led by Mário Vaz.
The finalization of the purchase operation will have to wait for the approval of the regulators. Vodafone expects it to be completed during the first half of 2023.
Owned by the Spanish company MásMovil, Nowo is the fourth largest operator in the Portuguese market, with around 250 thousand mobile service subscribers and 140 thousand fixed access customers (Pay TV and Broadband). It has approximately one million homes covered with its communications infrastructure.
Nowo was one of the companies that acquired spectrum in the 5G auction, with this acquisition it is one of the new operators that entered the market and thus disappears. It remains as a new operator, Dixarobil (owned by Digi Spain Telecom), and the wholesale operator, Dense Air. The market shrinks from six operators to five.
“The acquisition of Nowo’s operation by Vodafone reinforces its competitiveness in the market, providing it with greater scale and greater coverage, with benefits for current and future customers, as well as for the sector”, says Vodafone. The company led by Mário Vaz ensures that “the conditions are created for more efficient investments in high-speed connectivity networks, as well as in the development of innovative products and services”.
Mário Vaz considers that “the acquisition of Nowo will allow Vodafone to increase its customer base, as well as its fixed network coverage, and the increased resilience of this infrastructure”. The manager stresses that this purchase “is another demonstration of the commitment of the Vodafone, and its shareholder, with the country”, where he has been for 30 years.