he Council of Ministers Gave the green light to buy 100% of Vodafone Spain Group By the British Fund Zigona BidkoIn an operation worth 5,000 million euros.
This acquisition was announced in October, but needed government approval, making Zigona the new owner of The third largest telecom operator country, and stands out for market share 16% for fixed broadband customers and 22% for mobileAccording to data from the National Commission for Markets and Competition (CNMC) as of February 2024.
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The financing of this transaction will be carried out through a combination of… Debt and equity. Zegona has guaranteed the continuity and quality of the service and has promised significant investments in developing the service 5G technologywhich is expected to enhance Spain’s leadership in terms of connectivity and technological development.
This strategic acquisition also aims to maintain key contracts with General administration of the state Preserving the company’s strategic assets.
During a press conference after Council of MinistersMinister Digital transformation and public serviceJosé Luis Escrivá highlighted the importance of this sector and the government’s commitment to ensuring that this service is protected and strengthened in the face of large-scale commercial operations: “The telecommunications sector is going through a moment of profound decline.” reorganizationIt is a duty on public authorities Ensuring that this strategic service is not only guaranteed, but enhanced When a business transaction occurs on a scale.
The government approved the operation after supporting it last week Foreign Investment Board of the Ministry of Economy, Trade and Business. This decision follows the analysis required by current regulations. In addition, the Ministry of Digital Transformation and Public Service, through the Secretary of State for Communications and Digital Infrastructure, has granted permission to the acquiring company to assume control of the radio spectrum licenses held by Vodafone Spain.
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The sale to Zigona is not accompanied by clear commitments regarding the maintenance of Vodafone workers, an omission that has caused the unions to become concerned and forced to take action. The alarm was raised after a public document was released from Zigona, in which the unions were mentioned as a Risks of your operations in SpainIn addition to pointing out Reducing labor costs.
thus, CCOO And UGT They expressed their concern to the government, highlighting the negative consequences that such dismissals could have on employees and their families. He added firmly: “We will not, under any circumstances, accept that this process leads to the destruction of jobs due to the dire consequences that such a situation would have on workers and their families.” CCOO.
The letters sent by the unions to the government not only highlight the potential impact on employment but also paint a very discouraging picture for the future of Vodafone’s workforce following the takeover by Vodafone. Zigona. according to UGTThere is already a mass separation process underway Avatil, which could be just the beginning. “To the collective separation process that has already begun at Avatil, we are sure that others will join it in a short period of time, especially if the rumors about Zigona are confirmed, in which the gradual dismantling of the company is clearly proposed, with the resulting repercussions,” he said: “It would be on a workforce that is already very stretched.” Jose Alfredo MesaFederal Secretary for the Communications and Culture Sector UGT.
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