While yesterday everything seemed to point to that I would still have to wait to see how it materialized finally the purchase of ONO by Vodafone, the meeting of shareholders had decided to continue with their plans to take the company to bag, the story has taken a full turn in less than 24 hours.
At the last minute yesterday began circulating rumors by the network that, despite the outcome of the Board, the sale was closed, but Expansion is today which confirms that the agreement is closed. We would be talking about that only missing signature and that the final price would be environment to the 7,200 million euros, including debt.
According to the sources mentioned yesterday racing through the halls of ONO not finished after its Board of shareholders. The venture capital funds, which have more than 60% of the Millicom and are supposedly who are more committed to sale, would have failed to convince the rest of shareholders in time so was unable to close the sale in the morning.
But the day had to be long, so it was not until the night when all shareholders of ONO would have reached an agreement on sale. They have finally accepted a selling price of 7,200 million euros, more than ten times the EBITDA of the company, and that would include the payment of environment the 3,400 million euros of debt that has the Millicom.
Confirmation and approval of the authorities
So now not only would both companies to issue the official statement is where confirmed 100% agreement, although the process will not end there. It will be the CNMC or even the European Union who have to validate it, Although in principle it should not have any hits does not mean excessive concentration.
Now they can only hope to the reactions from the sector, especially of Orange. The French company, which aims to overcome to Vodafone in number of mobile lines in Spain, go away its target but not only that, and is also seen as his rival with a significant fixed network that she does not possess. Something gives us that think that the purchase of ONO will not be the first.