January 21, 2021

MásMóvil, Phone House and Euskaltel create a joint venture to buy mobiles

MásMóvil, Phone House and Euskaltel create a joint venture to buy mobiles


MásMóvil, Dominion (Phone House) and Euskaltel have signed an agreement for the constitution of Medbuying Technologies Group, a joint venture that aims to centralization of purchases of mobile terminals, routers and other accessories related to the world of telecommunications by these companies, thus allowing to achieve synergies by simplifying processes.

According to the information sent by the companies to the National Securities Market Commission (CNMV), Medbuying Technologies Group it will be owned 45% by MásMóvil, another 45% by Dominion, and 10% by Euskaltel.

Likewise, the companies have specified that the management body of the joint venture will be composed of 5 members, including two appointed by MásMóvil, two others proposed by Dominion and one more, appointed by Euskaltel.

"Through this alliance, the three companies obtain synergies by simplifying the purchasing processes, making them more efficient," said the companies, underlining that each of the partners in the joint venture will maintain their full independence and decision-making capacity. about its policy and strategy of mobile terminals and other devices included in the agreement.

This project will help us to gain efficiency in operations and will allow us to "increase the profitability" of our business, has declared Meinrad Spenger, CEO of MásMóvil.

"This alliance will allow us to optimize resources and improve the efficiency of fundamental processes in Phone House operations," said Mikel Barandiarán, CEO of Dominion. At the same time, Francisco Arteche, CEO of Euskaltel, stressed that this alliance optimizes our model to "make it more competitive".


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