Newcomer Digi snaps up Portugal's Nowo after Vodafone deal ban
LONDON, Aug 2 (Reuters) -Romanian telecoms firm Digi DIGI.BX said on Friday it had agreed to buy Portugal's fourth-largest operator Nowo Communications from Spain's MASMOVIL for 150 million euros ($162 million) as it prepares to launch services in the country.
The acquisition follows last month's ruling by the Portuguese competition authority barring a proposed acquisition of Nowo by Vodafone Portugal VOD.L, one of the three main telecoms groups in the country.
Telecoms market regulator ANACOM warned the three major operators in June not to obstruct Digi's entry into the market, and said it expected the company launch commercial operations later this year. The market is almost entirely controlled by MEO - owned by the Altice group - Portugal's NOS NOS.LS and Vodafone Portugal.
Digi won licences in October 2021 to launch 5G operations in Portugal and has been building its own network for 5G services and fixed fibre optic telecommunications.
Digi said in a statement on Friday that Nowo has approximately 270,000 mobile clients and 130,000 fixed telecommunications clients, in addition to having also 5G spectrum licences.
Nowo is onwed by MASMOVIL, which completed a merger with Orange ORAN.PA in March to create Spain's largest mobile operator, MASORANGE.
Digi said the acquisition price was "subject to customary adjustments and certain contingent events".
Digi also operates in Spain, where its aggressive offers have heightened competition, and Italy.
($1 = 0.9241 euros)
Reporting by Andres Gonzalez in London and Sergio Goncalves in Lisbon; Editing by Emelia Sithole-Matarise
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