On the eve of Digi Portugal's entry into the Portuguese market, the telecom company that promises to reform telecommunications prices in Portugal has announced the purchase of Nowo for 150 million euros.
The Portuguese telecom market is eagerly awaiting the arrival of a new player, whose entry should put pressure on prices by up to 7.4%, according to competition estimates. In May 2021, Digi Portugal introduced itself to the sector, without specifying a start date. But everything indicates that in the coming months, MEO, NOS and Vodafone will share frequency bands with the operator that last week offered 150 million euros to Nowo, owned by Cabonitel.
In a somewhat surprising outcome for market watchers, and just hours after announcing that the agreement between Media Capital and Lorca JVCO Limited had become null and void, Digi Portugal announced what it described as an “important strategic step,” favourable to “accelerated expansion in the Portuguese market.”
For the operation in Portugal, which will have more than 600 employees, the company estimates an investment of 500 million euros in infrastructure. “These investments and actions aim to demonstrate the company’s commitment to developing activity in Portugal in the long term, according to principles similar to those in other countries where Digi Group operates successfully,” he said in a statement.
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