Vodafone Portugal is to acquire smaller cable rival Nowo.
Vodafone’s Portuguese unit has entered into an agreement with Llorca JVCO Ltd, a shareholder of MásMóvil Ibercom to acquire Cabonitel, the holding company of Nowo.
The deal, which is subject to regulatory approval, is expected to close in the first half of next year.
Nowo is the fourth largest convergent operator in Portugal, with around 250,000 mobile service subscribers and 140,000 fixed access customers spanning pay TV and broadband. The company’s network passes approximately one million homes.
Vodafone said the acquisition would reinforce 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 as a whole.
Vodafone said the move would also create the conditions for more efficient investment in high-speed…
