Deal put on hold following TeliaSonera’s decision to sell off 20:20’s biggest customer in the country, network operator Yiogo
Brightstar’s proposed acquisition of 20:20 Mobile has been delayed after one of 20:20’s key customers in Spain was put up for sale.
Mobile News understands Brightstar had agreed a deal to buy the 20:20 Mobile Group.
However, the deal had to be put on hold after network operator TeliaSonera’s decision to sell off Spanish network operator Yoigo (20:20’s biggest customer in that country), and subsequent interest from Vodafone, cast doubt over whether its fulfilment deals would continue.
Loss of the contract would have had a significant impact on the Spanish division’s value.
Yoigo, which has around two million customers, has been closely aligned with 20:20 since launching in 2006, with the distributor managing all stock fulfilment for the operator as well as logistics and even its call centres.
Yoigo SIMs are sold through a number of retailers in Spain, including Carphone Warehouse-owned The Phone Shop stores as well as a number of its own franchise stores.
However, according to sources close to 20:20 Mobile and Brightstar, TeliaSonera has now backtracked on its original decision, deciding to keep hold of the company.
This should see the acquisition move a step closer to completion, our sources close to both firms claim.