Interesting strategy if achieved.15 Aug 2020 14:23
MADRID (Reuters) - Spanish regional telecom operator Euskaltel (EKTL.MC) has hired investment bank Lazard (LAZ.N) to explore a potential sale of its broadband network, Expansion newspaper reported on Friday, citing unidentified market sources.
Euskaltel would then rent the network back from the new owner and use the cash raised by the sale to develop its Virgin Telco mobile telephone business, the newspaper said.
The company operates mobile telephone, internet and cable TV networks in Spanish northern regions of the Basque country, Galicia and Asturias, where it faces increasing competition from rivals.