Vodafnee-Telephone work is difficult

The numbers seem difficult at first glance.The project can leave more than 10,000 million in Spanish operators.

Vodafone-Phone activity is hard

It seems difficult to suffer from numbers at first glance.The lack of missing is more than 10 billion operators.

Market sources from the purchase of Vodafone faced by the telephones, but these numbers are known that the operation is not easy to difficult.

In the market (3.5%), chairman (26.9%), market (26.9%), Sainikal (26%), Vodafone (9.7%), Spanish Telephone Marketing Marketing Marketing Marketing Market Bilting's moment.

The head of its development has become fen in the Spain of its development, although it does not improve his presence in the sector.

If you have this national growth of the options of options, it is only on the date and on earth. This is why we assume that the only possibility is Vin.

Telephone, Vodafone and Masorange today make up 86% of mobile lines in Spain

If Telefónica acquired Spanish vodafone today, they would add more than 52 % of the telecommunications market retail income, and more than 65 % of companies (companies).For the number of mobile lines, phones and vodafone will add 45 %, and they will reach 86 % with Masaranz.They will increase by 83 % of the market with Massaranz.Many concentrations, and, as a result, are a bad approach to price.

These potential concentration problems need to be accompanied by a regulatory. "This would result in a rather complex regulatory approval," they point to rent 4. The process would be "quite long, with exhaustive requests. As a recent referral to the sector, we have a joint venture - thermal cinema agreement - between Masmóvili and Orange, which has almost two years (20222.2024).

The conditions that the European Commission would introduce would probably be very demanding, as the sum of Telefónica-Vodafone would have a very important part and that they would partly give Digi to be the most important winner."Telefónica risks the Commission will be more favorable to Digi than it would like, to make competition more equal," Iván San Félix.

The cost of a cost for Teleónica

The owners of Vodafone Spain are listed in London, Vodafone Spain is its sole asset.Therefore, stock capitalization - the stock market energy value - is the main reference for its evaluation, and its evolution is excellent: it is currently about 10.8 billion euros.Spain.Its multiple is Telefónica and the industry multiple.Only very high synergies can be integrated, and they will be limited by measures taken by the European Commission.”

To finance this acquisition or others, Telefonica moves all of its affiliates, except Brazil, to Latin America, with partial monitoring of assets such as telephone Techniko and real estate, such as the submarine cable division and lease of its Madrid (C) building, and the sale of the Gran Via building.

Despite these operations, the acquisition must be redeemed to expand the telfonica."It is possible to have about 5.1 billion euros, which represents 21% of the company's market value," said Ivan San Felix.

The operation will be a great financial effort for the Telefónica, but the annuity 4 estimates that synergistic mergers can be more than EUR 500 million in orange integration.

Other Options in the UK and Germany

In addition to running Vodafone Spain, telepunics may open up other options.The remaining 50 % of Virgin Media are supposed to purchase in the UK, although its 24,000 -million Euro loans will reduce financial flexibility.Cano a small contestant in one and Germany, which can be Vodafone.

Telice Efafónica, already leading the mobile phone driver, has made a good flight for fixed telephony, mobile and broadband bands to take over more than 50% of Virgin Media.The German conditions are based on the concentration process.