Wall Street

Orange and MasMovil sign $19 billion merger deal in Spain

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Reuters

By Mathieu Rosemain and Aislinn Laing PARIS/MADRID (Reuters) – Orange and MasMovil have signed a binding agreement to combine operations in Spain in a deal valuing the merged entity at close to $19 billion, the two telecoms firms said in a statement on Saturday. The merger creates a heavyweight spanning mobile and broadband, posing a challenge to top player Telefonica and analysts say possibly opening the way to similar alliances in markets such as Italy, Portugal and the UK. The merger of the second and fourth largest telecoms operators respectively also leaves third-ranked Vodafone stranded,…

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