Lisbon, Aug. 2, 2024 (Lusa) - Digi Communications has agreed to buy Nowo, one of Portugal's four triple-play telecommunications operators, and its licences for €150 million, it said on Friday in an announcement via the securities market authorities in Romania where its shares are listed.

In a document sent to the Bucharest Stock Exchange, the company announced that Digi Portugal, its local unit, had on Thursday agreed "a share purchase agreement" with Cabointel, which owns Nowo.

The operation is valued at €150 million and will be subject to the normal legal and regulatory procedures.

According to Digi, "the perimeter of the transaction includes Nowo Communications S.A., the fourth largest mobile and fixed telecoms operator in Portugal."

Nowo has 270,000 mobile telecommunications customers and 130,000 fixed line customers, and also holds spectrum licences in the 1,800 MHz, 2,600 MHz and 3,600 MHz frequency bands.Digi's purchase of Nowo comes after a deal for Vodafone Portugal to buy its rival fell through, after Portugal's Competition Authority (AdC) on 4 July announced that it had "rejected" the deal on the grounds that this concentration presents "significant obstacles to competition" and harms consumers.

Vodafone had signed an agreement to buy Nowo from Llorca JVCO Limited, owner of Masmovil Ibercom, back in September 2022.

JO/ARO // ARO.

Lusa