Euskatel €1.2 billion acquisition of R Cable

Overview:

• Euskaltel—a Basque-based Spanish telecommunications company—has acquired R Cable for €1.2 billion.
• Euskaltel offered shareholders in R Cable cash and new shares, and the merged operator will continue to act under two separate brands.
• The combined operators will serve 715,000 residential and business customers in the north of the country, with R Cable being active in Galicia and Euskaltel in Basque country. 
• Consolidation has been a theme on the Spanish cable market, and the deal follows Vodafone’s acquisition of cable operator Ono and Orange’s takeover of Jazztel.

Adam Majeed - Regional editor