PLAY acquired by ILIAD GROUP

A premier private equity consortium comprising Cinven, KKR, and Providence Equity Partners has successfully finalized the 99.3% public-to-private take-private acquisition of MASMOVIL. The investment thesis represents a classic large-scale infrastructure and telecom platform buyout, heavily focused on capturing localized market expansion and sector consolidation in Western Europe. By securing near-total equity control, the financial sponsors establish a powerful operational beachhead within the Iberian telecommunications landscape

Orange SA has announced a definitive agreement to acquire a 54% controlling equity stake in Telekom Romania Communications, executing a major cross-border corporate buyout within the Central and Eastern European digital infrastructure sector. The transaction was structured with the assistance of specialized financial, legal, and regulatory advisors, resulting in a net purchase price of €268 million paid by Orange, net of debt and cash components. The transaction remains subject to customary closing conditions and regulatory approvals, with finalization scheduled for the second half of 2021

Vodafone Group Plc has completed the sale of its entire 100% stake in Vodafone Malta to Monaco Telecom SAM. The strategic rationale for the divestment is part of Vodafone's broader group strategy to simplify its portfolio and optimize its asset base to focus on larger regional markets and reduce debt. For Monaco Telecom, the acquisition represents a significant expansion of its Mediterranean footprint, adding a market leader with a strong spectrum portfolio and a high-quality customer base. The deal allows Monaco Telecom to apply its operational model to a new jurisdiction while initially operating under the Vodafone brand during a transitional period

Groupe Bollore sold its 100% stake in Wifirst to a consortium of investors (Amundi, Bpifrance, Socadif) and the management team. The deal is heavily leveraged, financed by a EUR100 million unitranche debt facility provided by Pemberton.

The acquisition of Iliad 7 by Cellnex forms part of a wider 2-billion-euro international divestment including 2,200 Italian telecom installations and Swiss infrastructure assets. This transaction represents a strategic balance sheet rebalancing for Iliad, currently facing retail market compression caused by pricing pressure from domestic rivals SFR and Bouygues Telecom. The immediate monetary intake allows the seller to accelerate corporate deleveraging while securing investment capital for upcoming nationwide fiber rollouts and next-generation 5G spectrum allocations

Infrastructure fund manager Basalt Infrastructure Partners, acting through its newly incorporated acquisition vehicle Kelion Bidco Limited, has reached a definitive agreement to acquire the entire issued and to be issued share capital of Manx Telecom plc. Implemented by means of a Court-sanctioned Scheme of Arrangement under section 157 of the Isle of Man Companies Act 2006, the recommended cash acquisition has secured the unanimous backing of the target's board of directors. Instructed by independent financial advice from Oakley Advisory, the Manx Directors intend to unanimously recommend that shareholders vote in favor of the scheme resolutions, having already provided irrevocable undertakings to vote their own beneficial holdings—representing approximately 0

A high-profile financial consortium comprising Apax Partners, Warburg Pincus, Canada Pension Plan Investment Board (CPPIB), and Ontario Teachers' Pension Plan (OTPP) has completed the public-to-private take-private acquisition of satellite communications pioneer Inmarsat. This all-cash offer, which was unanimously recommended by Inmarsat’s board of directors, delivered a significant 27% premium over the preceding share price, comfortably outbidding a prior acquisition proposal made by EchoStar. The institutional buyout secured critical early momentum by gaining the formal backing of hedge fund Lansdowne Partners, Inmarsat’s largest shareholder, which committed its 11

Celeste, a French telecom operator specializing in ultra-high-speed internet services for businesses, is opening up the majority of its capital to InfraVia. The company announced revenues of EUR20 million in 2018 and an EBITDA margin of close to 60%.

Latour Capital led the acquisition of Sogetrel from Quilvest Private Equity for an estimated valuation. This follows a period of hyper-growth where the group exceeded its 5-year business plan in just 24 months. The transaction included a significant reinvestment from the management team, led by Xavier Vignon, who retained 30% of the equity. The strategy for this new cycle focuses on continued organic growth and strategic acquisitions to diversify service offerings.

The acquisition of SMS.it represents a pivotal strategic move for LINK Mobility, aimed at securing a dominant market position within the Italian mobile messaging sector. By integrating SMS.it, which operates an independent mobile network and maintains key interworking agreements with Italian operators, LINK Mobility gains immediate access to significant messaging volume and an established customer base. This acquisition is part of the Group’s broader strategy to expand its European footprint through the consolidation of leading regional players, thereby enhancing its ability to provide scalable, cross-border mobile communication services