Euskaltel board recommends acceptance of Masmovil acquisition

Consolidation among Spanish operators got one stap closer after the board of Euskaltel recommended its shareholders accept Masmovil’s €2 billion acquisition bid.
The bid was made at the end of March amid all sorts of pledges by the would-be acquirer to retain Euskaltel’s Basque identity and generally be gentle with it. There were also the usual boilerplate promises about what a generally great idea the whole thing is, designed to placate and reassure regulators and shareholders