Andorra Telecom sold a 1.8% stake in the Spanish operator MásMóvil for 16.2 million euros
The profit of Andorra Telecom from the sale of a 1.8% stake in the Spanish operator MásMóvil amounted to 16.2 million euros. At the time of sale, the price was fixed at 64 euros per share, which is 229% higher than the price at the date of acquisition.
In July 2016, Andorra Telecom acquired a 2.7 percent stake in MásMóvil for EUR 10.5 million.
The main purpose of selling part of the stake is to invest in the construction of a new office building of the company “Cloud”.
Currently, Andorra Telecom owns 0.89% of the authorized capital of MásMóvil, the stake is valued at more than 11 million euros.