Apollo, JB Capital preparing bid for Vodafone’s Spanish unit, Expansion says
Published On :
Apollo, JB Capital preparing bid for Vodafone’s Spanish unit, Expansion says
MADRID (Reuters) – U.S.-based buyout fund Apollo Global Management is readying a bid with local fund JB Capital for the Spanish unit of telecom giant Vodafone, the Expansion newspaper reported on Monday citing unidentified sources with knowledge of the matter.
The news about a potential bid comes three weeks after British telecom investment company Zegona said it was in talks with Vodafone to buy the Spanish unit.
The company could be worth as much as 5 billion euros ($5.27 billion), Expansion estimated.
Vodafone CEO Margherita Della Valle launched a strategic review of the Spanish unit earlier this year. She said in May she was open to “structural change”, indicating a sale was an options for a business that has battled intense price competition in recent years.
Vodafone is one of the three largest telecom operators in Spain together with Telefonica and the local unit of France’s Orange. The latter is in the process of merging with MasMovil, the fourth largest operator.
Apollo and JB Capital did not immediately respond to requests for comment. A Spain-based spokesperson for Vodafone declined to comment.
($1 = 0.9485 euros)
(Reporting by Inti Landauro; editing by Jason Neely)
Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.
