Euskaltel—a Basque-based Spanish telecommunications company—has acquired R Cable for €1.2 billion.
Euskaltel offered shareholders in R Cable cash and new shares, and the merged operator will continue to act under two separate brands.
The combined operators will serve 715,000 residential and business customers in the north of the country, with R Cable being active in Galicia and Euskaltel in Basque country.
Consolidation has been a theme on the Spanish cable market, and the deal follows Vodafone’s acquisition of cable operator Ono and Orange’s takeover of Jazztel.