Explainer-Why are European telecom firms selling assets?
)'s bid on Tuesday to sell its Spanish business is the latest move by European telecom firms trying to strengthen their financial health by divesting assets, consolidating markets and selling stakes to investors.
Mergers would reduce the number of operators, and regulators are concerned that could lead to higher prices, less choice and a reduction in quality for consumers, particularly if two local players join forces in one market. "Orange/MasMovil is a crucial alliance for the European telecoms sector as it could open the door to other tie-ups if approved," CCS Insight analyst Kester Mann said.
Private investors such as French tycoon Xavier Niel took telecoms firm Iliad private for $3.7 billion in 2021, following billionaire Patrick Drahi, whose personal holding company took private the listed owner of France's second-biggest telecoms group, SFR.The weakness of European telecom firms has given Middle Eastern telecom companies an opportunity to build presence in the region.
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