MASMOVIL Group completed the acquisition of the Spanish unit of Lycamobile for €372m.

MASMOVIL Group, the fourth largest converging telecommunications operator in Spain, completed the acquisition of the Spanish unit of Lycamobile, a mobile virtual network operator operating in 23 countries, for €372m ($410m). "We are very pleased to incorporate Lyca into our Group as it fits perfectly into our commercial strategy. We will continue to work on creating value for our customers and for the telecommunications market. We welcome Lyca's clients and I hope that they will soon be able to enjoy the advantages of belonging to MASMOVIL Group", Meinrad Spenger, MASMOVIL CEO.