“We are surprised that Zegona has not contacted us yet.” The CEO of Finetwork, Óscar Vilda, has not hidden this Wednesday his surprise at the absence of news from the fund that will be the new owner of Vodafone.
The British company has been Finetwork's strategic partner since the birth of this Spanish operator, since the networks through which it provides its services are Vodafone's. A contract that expires in April 2024 and whose renewal Finetwork has been negotiating since the summer.
“Our current partner, Vodafone, is the one with whom negotiations were most advanced, although we are talking to everyone. But it is true that market conditions have changed considerably in the last 10 days,” said Vilda.
The manager also does not hide that the company allows itself to be loved at a strategic moment for the sector. “Our wholesale contract represents a fixed income of 700 million euros over the next five years, and I don't think it is a negligible amount for anyone,” he explained this Wednesday during a meeting with journalists to present the results.
In any case, Vodafone would not be the only firm with which Finetwork should reach an agreement if it wants to meet its challenge of "acquiring a quality network that allows good 5G quality and reaching some 15 or 20 million homes through of the fiber.” “We are not looking for the cheapest offer, we are looking for quality,” said Vilda.
On Finetwork's horizon is being able to play in the Spanish convergence league, that is, being able to offer mobile, landline and services together. Something that is still far away since only 23% of its business comes from fiber.
Between January and September, the operator recorded a growth of 13% in revenue and 12% in EBITDA. Thanks to this evolution, in a conservative scenario, the company's forecast is to close the 2023 financial year with a turnover of 150 million euros, which represents a growth of 22% compared to 2022. The adjusted EBITDA at the end of the year is will be 13 million euros, 12% more.
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