Biggest Euskaltel investor sees MasMovil bid closing by Q4, Telecom News, ET Telecom

LONDON, – The head of the largest shareholder in the Spanish telecommunications group Euskaltel said it expects investors and regulators to support MasMovil’s planned purchase and clear the way for the deal by the fourth quarter of the year.

Eamon O’Hare, head of the UK list Zegona, told Reuters that he has high confidence that the deal will be completed and then consider what to do with the revenue for its own shareholders.

MasMovil announced a friendly takeover bid for Euskaltel on Sunday, a nearly 2 billion euro purchase to be shaken Spaincompetitive telecommunications market. (Report by Kate Holton; edited by James Davey)