Vodafone Portugal entered into an agreement with Llorca JVCO, shareholder of Másmóvil Ibercom (Másmóvil), for the purchase of the company Cabonitel SA, owner of Nowo Communications (Nowo).
Nowo is the fourth largest convergent operator in Portugal, with around 250 thousand mobile service subscribers and 140 thousand fixed access customers (Pay TV and Broadband) in approximately 1 million homes covered by its communications infrastructure.
The acquisition of Nowo's operation by Vodafone reinforces its competitiveness in the market, providing it with greater scale and greater coverage, with benefits for current and future customers, as well as for the sector. It also creates the conditions for more efficient investments in high-speed connectivity networks, as well as in the development of innovative products and services.
The transaction will have to wait for the necessary regulatory approval, and it is expected that it can be completed during the first half of 2023.
With 30 years of commercial activity in the Portuguese market, this operation is yet another demonstration of Vodafone's and its shareholder's commitment to the country, and of the commitment to the development of an increasingly digital society and business fabric in Portugal.
Mário Vaz, CEO of Vodafone Portugal
The acquisition of Nowo will allow Vodafone to increase its customer base, as well as its fixed network coverage. The future modernization of the network acquired for the new generation of optical fiber will benefit current and future users, by guaranteeing the quality and increased resilience of this infrastructure.
