On June 25, 2020, Polygon Global Partners has asked Spain’s market regulator to investigate the terms of a 3 billion euro ($3.4 billion) private equity bid for MásMóvil Ibercom, S.A. In the letter sent to the CNMV Polygon stated that the terms agreed on by existing shareholders made any competing bid impossible. Polygon stated that the Company’s shares rose above the 22.50 euro offer price when the deal, which is backed by the Company’s board, was announced on June 1, and have stayed broadly slightly above the offer price. Polygon stated that the private equity consortium’s offer represented a 20% premium to the previous session’s close, but is well below a five-year high of 25.52 euros which the Company hit in March 2018.