Romania’s Digi Communications has successfully acquired Nowo Communications from Spain’s MasMovil for €150 million. This deal marks a significant move for Digi, granting them the position of Portugal’s fourth-largest telecom operator.
This acquisition comes just weeks after the Portuguese competition authority, Autoridade da Concorrência, rejected a bid from Vodafone Portugal to acquire Nowo. The rejection was based on concerns over potential market dominance.
Nowo boasts a significant customer base, serving approximately 270,000 mobile and 130,000 fixed telephony clients. The company also holds valuable spectrum licenses in the 1800 MHz, 2600 MHz, and 3600 MHz frequency bands.
The agreement between Digi and MasMovil is subject to regulatory clearance. Once approved, Digi will gain full ownership of Nowo and its operations.
"This acquisition is a strategic move for Digi as we expand our presence in the European market," said Digi Communications CEO, Serghei Bulgac. "We believe that Nowo's strong brand and customer base will be a valuable addition to our portfolio."
The acquisition of Nowo is expected to strengthen Digi's position in the Portuguese market. The company aims to leverage Nowo's existing infrastructure and customer base to expand its service offerings and market share.