Investment funds KKR, Cinven and Providence Equity Partners completed the acquisition of Masmovil, the fourth largest telecommunications operator in Spain, for $3.5bn. “We are delighted to have completed the acquisition of such a major European business which has become the leading challenger in Spain. The experienced management team has demonstrated its ability to consistently deliver excellent results, even in fast changing environments. MASMOVIL has a highly successful track record and has achieved revenue and double-digit EBITDA growth both organically and through acquisitions and, more recently, through the actions they have taken since COVID-19. We strongly believe MASMOVIL is well positioned in the market for further exciting growth opportunities,” Jorge Quemada and Thomas Railhac, Cinven Partners.