for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Spain's government approves $2.4 bln takeover bid of Euskaltel by Masmovil

MADRID, June 23 (Reuters) - Spain’s government has approved the 1.99 billion euro ($2.38 billion) takeover bid for Spanish telecommunications operator Euskaltel by rival Masmovil, government sources said on Wednesday.

The friendly takeover bid, which has so far received the greenlight from Spain’s competition watchdog, but still needs final regulatory approval, would reinforce Masmovil’s position as the fourth-largest operator in Spain’s crowded telecoms sector. ($1 = 0.8371 euros) (Reporting by Belen Carreno and Clara-Laeila Laudette; additional reporting by Emma Pinedo; editing by Andrei Khalip)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up