Digi Communications to Acquire Nowo for EUR 150 Million

Reported by Srikapardhi August 5th, 2024 at 07:29 pm

Nowo is Portugal's fourth-largest mobile and fixed telecom operator.

Highlights

The acquisition involves Digi Portugal acquiring 100 percent of Cabonitel, Nowo’s parent company.
Nowo serves approximately 270,000 mobile and 130,000 fixed telephony customers.
The deal is subject to competition clearance by regulatory authorities.

Digi Communications to Acquire Nowo for EUR 150 Million
Romanian telecom operator Digi has reached an agreement to purchase Portuguese operator Nowo for EUR 150 million. Digi Communications' Portugal subsidiary, Digi Portugal, has entered into a share purchase agreement with Lorca Jvco Limited to acquire 100 percent of Cabonitel, which owns Nowo Communications. This acquisition follows Vodafone Portugal's bid for Nowo, which was blocked by Portuguese regulators.

Also Read: Telefonica and Digi Sign New 16-Year Mobile Network Agreement

Nowo's Market Position and Assets

Nowo is Portugal's fourth-largest mobile and fixed telecom operator, serving approximately 270,000 mobile and 130,000 fixed telephony customers. Nowo also holds spectrum licenses in the 1800 MHz, 2600 MHz, and 3600 MHz frequency bands.

If the deal gets approved, Nowo will see ownership change hands from Cabonitel to Digi Portugal, marking a significant step for Digi as it enters the Portuguese market.

Also Read: Digi Spain Officially Launches VoLTE and VoWiFi calls for Customers

Regulatory Approval

Digi said the completion of the transaction is subject to competition clearance. Digi is a European telecommunications company offering services in Romania and Spain, with a presence also in Italy, Portugal, and Belgium.

Reported By

Srikapardhi Telecom Analyst

Passionately following the Indian #Telecom Industry for over a decade from Business, Consumer and a Technical perspective. My primary focus area is Consumer & Digital Experience.