Spain approves large merger in mobile telecoms market
The Spanish government has followed the European Union in granting permission for two companies to combine to form the country's largest telecoms company, Digital Transformation Minister José Luis Escrivá announced in Madrid on Tuesday. The merger of Orange España and MásMóvil will create a combined company with an estimated value of €18.6 billion ($20.3 billion), with the two holding equal stakes. The EU approved the merger last month. France's Orange will place its entire Spanish unit, Orange España, in the new company, which has yet to be named. The location of its new head office has also ...