Vodafone and MasMovil deny holding tie-up talks in Spain

MADRID: Both Vodafone and MasMovil denied a report by the El Confidencial news website saying the Spanish mobile operator was working with Goldman Sachs to buy the British telecom’s business in Spain for 6 billion euros ($6.67 billion).

MasMovil and Goldman Sachs have held talks with the world’s second largest mobile operator regarding its Spanish business, the Spanish website reported citing unnamed sources close to the talks.

Consultancy firm McKinsey was also involved and in charge of a strategic plan which estimated synergies worth 2 billion euros, it said.