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MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  MásMóvil Ibercom, S.A.    MAS   ES0184696104

MÁSMÓVIL IBERCOM, S.A.

(MAS)
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KKR and Cinven in takeover talks with Spain's MasMovil - sources

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05/31/2020 | 09:09am EDT
FILE PHOTO: A balloon with the MasMovil logo as the company makes its stock market debut in Madrid

By Pamela Barbaglia and Graham Keeley

A consortium of three buyout funds including KKR and Cinven is looking to launch a takeover bid for Spanish telecoms company MasMovil, two sources close to the matter told Reuters.

The consortium, which also includes U.S. buyout fund Providence, is putting the finishing touches to its proposal to take control of the Madrid-listed company, which has a market value of 2.4 billion euros (2.2 billion pounds), the sources said.

Providence already owns 9.16% of MasMovil, which provides fixed line, mobile and internet services to Spanish households.

If the bid goes through, Providence, KKR and Cinven will have equal shares of Spain's fourth-largest telecoms company, the sources said.

The bid is expected to value the business at slightly more than 22 euros per share, with its overall value hovering around 3 billion euros, one of the sources said.

Morgan Stanley and law firm Freshfields are acting as advisers to the consortium, which is looking to launch a tender offer early next week, both sources said.

MasMovil declined to comment while Morgan Stanley and Freshfields representatives were not immediately available.

Spanish newspaper El Confidencial said in an earlier report that the buyout funds were confident of reaching an agreement with the company's management.

If successful, the deal would mark the first attempt by heavyweight private equity investors to buy a publicly listed company in Europe in a so-called take-private deal since the coronavirus crisis brought the region to a halt.

Spain's Telefonica pulled off a $38 billion deal in early May to merge its British mobile operator O2 with Liberty's cable network business Virgin Media.

(Reporting by Pamela Barbaglia in London and Graham Keeley in Barcelona; Editing by David Goodman)

Stocks mentioned in the article
ChangeLast1st jan.
MORGAN STANLEY 2.99% 48.91 Delayed Quote.-7.10%
MÁSMÓVIL IBERCOM, S.A. -0.44% 22.72 End-of-day quote.11.70%
TELEFONICA S.A. -1.84% 4 End-of-day quote.-35.76%
THE NEW HOME COMPANY INC. 6.17% 3.27 Delayed Quote.-33.91%
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Financials
Sales 2020 1 882 M 2 132 M 2 132 M
Net income 2020 149 M 169 M 169 M
Net Debt 2020 1 981 M 2 245 M 2 245 M
P/E ratio 2020 21,5x
Yield 2020 0,38%
Capitalization 2 991 M 3 385 M 3 389 M
EV / Sales 2019
EV / Sales 2020 2,64x
Nbr of Employees 887
Free-Float 61,3%
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Technical analysis trends MÁSMÓVIL IBERCOM, S.A.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 26,04 €
Last Close Price 22,72 €
Spread / Highest target 37,5%
Spread / Average Target 14,6%
Spread / Lowest Target -3,17%
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Managers
NameTitle
Meinrad Spenger Chief Executive Officer & Director
Eduardo Díez-Hochleitner Rodríguez Chairman
José María del Corro Chief Financial Officer
Santos Fernandez Miguel Chief Technology Officer
José Eulalio Poza Sanz Vice Chairman
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