The agreement also strengthens the services offered to Fixed Wireless customers, Wimax and mobile telephony
This operation allows to advance in the fulfillment of the Business Plan 2018-2022 focused on the sustainable growth of the group
Madrid, 19th of December, 2018. Eurona Group has materialized on Wednesday the agreement reached last July with Xfera Móviles of MásMóvil Group and has made the sale of the licensed band of 3.5 GHZ for 30 million euros, which will serve as the basis for the future deployment of the new technology 5G.
Through the agreement, which has been made official today, Eurona, who has held this spectrum since 2014, transfers this band licensed in a 40 MHz block of frequencies between 3,400 and 3,420MHz and between 3,500 and 3,520MHz. An operation that already has the administrative approval of the General Directorate of Telecommunications and Information Technology of the Ministry of Economy and Business and which was approved by the General Shareholders Meeting of the company that Fernando Ojeda directed last July.
It is a strategic alliance that not only includes the financial consideration of 30 million euros in favor of Eurona but also includes subrogation contracts of the current network and wholesale contracts of 4G and Wimax, the business area of Eurona that offers services broadband and fixed telephony in non-urban environments.
All of this will allow the company to advance in the fulfillment of the 2018-2022 Business Plan, expand its coverage radius and attract up to 75,000 potential customers or even the possibility of defining multiproduct and multiservice strategies (internet and mobile telephony). In addition, this agreement also contemplates the opportunity to collaborate with the distribution channel of MásMóvil and involves the generation of funds for the commercial impulse of the new services.
Precisely, the sale of the 5G license is part of the new strategy dealt by Eurona in its Business Plan 2018-2022, which is committed to the divestment of non-strategic assets to focus on the Group's operating profitability and sustainable growth.
According to Fernando Ojeda, CEO of Eurona, "the company has successfully completed this strategic operation with MásMóvil after the signing of the preliminary agreement six months ago and after the suspension conditions of the contract have been fulfilled in the calendar." "All this," according to Ojeda, "is a very important boost to the business of Eurona and, therefore, also to our Business Plan."
About Eurona
Eurona Wireless Telecom (EWT), is a Spanish multinational telecommunications company that offers broadband access services, new generation, and carries high-speed Internet where others do not, using wireless and satellite technologies. The multinational, which is listed on the Alternative Stock Market (MAB) since 2010, has a presence in more than 20 countries and has more than 40,000 customers.
