Digi Communications N.V. announces the conclusion of a share purchase agreement by its subsidiary in Portugal

(IN BRIEF) On 1 August 2024, Digi Communications’ subsidiary, DIGI Portugal, LDA, entered into a share purchase agreement with LORCA JVCO Limited to acquire 100% of Cabonitel, S.A. for EUR 150 million, subject to customary adjustments and contingent events. Cabonitel owns Nowo Communications, Portugal’s fourth largest mobile and fixed telecom operator, serving approximately 270,000 mobile and 130,000 fixed telephony clients. Nowo also holds spectrum licenses in the 1800 MHz, 2600 MHz, and 3600 MHz frequency bands. The transaction awaits competition clearance.

(PRESS RELEASE) BUCHAREST, Romania, 2-Aug-2024 — /EuropaWire/ — Digi Communications N.V. (“Digi” or the “Company”), one of the leading European telecommunications companies, listed on the Bucharest Stock Exchange, informs the market that on 1 August 2024 DIGI Portugal, LDA. (“DIGI Portugal”) entered into a share purchase agreement with LORCA JVCO Limited for the acquisition of 100% of the shares issued by Cabonitel, S.A. at a valuation of EUR 150 million, subject to customary adjustments and certain contingent events (the “Transaction”).

The Transaction perimeter includes Nowo Communications, S.A. (“Nowo”), Portugal’s fourth biggest mobile and fixed telecom operator (entirely owned by Cabonitel S.A.). Nowo has ca. 270 thousand mobile telephony clients and ca. 130 thousand fixed telecommunications clients. Nowo also holds spectrum licenses in 1800 Mhz, 2600 MHz and 3600 MHz frequency bands.

The completion of the Transaction is subject to competition clearance.

About Digi Communications N.V.

We are a European leader in geographically-focused telecommunication solutions, based on the number of revenue generating units (“RGUs”) and a leading provider of telecommunication services in Romania and Spain, with a presence also in Italy, Portugal and Belgium.

Contacts:

For Digi Communications NV
Phone no: +4031 400 4444
investor.relations@digi-communications.ro

Website:

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FAQs on Digi Communications’ Share Purchase Agreement in Portugal

Q1: What did Digi Communications N.V. announce?

A1: Digi Communications N.V. announced that its subsidiary, DIGI Portugal, LDA, has entered into a share purchase agreement with LORCA JVCO Limited to acquire 100% of the shares issued by Cabonitel, S.A.

Q2: When was the share purchase agreement signed?

A2: The share purchase agreement was signed on 1 August 2024.

Q3: Who is the seller in this transaction?

A3: The seller in this transaction is LORCA JVCO Limited.

Q4: What is the value of the transaction?

A4: The transaction is valued at EUR 150 million, subject to customary adjustments and certain contingent events.

Q5: What does Cabonitel, S.A. own?

A5: Cabonitel, S.A. owns Nowo Communications, S.A. (Nowo), which is Portugal’s fourth-largest mobile and fixed telecom operator.

Q6: How many clients does Nowo Communications have?

A6: Nowo Communications has approximately 270,000 mobile telephony clients and around 130,000 fixed telecommunications clients.

Q7: What spectrum licenses does Nowo hold?

A7: Nowo holds spectrum licenses in the 1800 MHz, 2600 MHz, and 3600 MHz frequency bands.

Q8: What is the next step for the completion of the transaction?

A8: The completion of the transaction is subject to competition clearance.

Q9: Who are Digi Communications N.V.?

A9: Digi Communications N.V. is a leading European provider of geographically-focused telecommunication solutions, with significant operations in Romania and Spain, and presence in Italy, Portugal, and Belgium.

Q10: Why is this acquisition significant?

A10: This acquisition is significant because it strengthens Digi Communications N.V.’s presence in the Portuguese telecommunications market, adding a substantial number of mobile and fixed telephony clients and valuable spectrum licenses to its portfolio.

SOURCE: Digi Communications NV