Digi Portugal has concluded a contract for the use of some frequencies in Portugal

Digi Portugal, the Portuguese subsidiary of Digi Communications, concluded a contract with Vodafone Portugal, for the right to use certain frequencies in that country, according to a report of the telecommunications operator published yesterday on the website of the Bucharest Stock Exchange (BVB ).

Based on the contract, which was concluded at the end of last week, Digi Portugal will be allocated the rights to use the frequencies of 2x10 Mhz in the 1,800 Mhz band and 2x10 Mhz in the 3,400-3,800 Mhz band as well as the wholesale bitstream access to fiber optic network owned by Vodafone, according to the report.

The allocation of the rights to use the frequencies by Digi is part of a package of remedies that Vodafone is to submit to the Portuguese Competition Authority in connection with the acquisition, by Vodafone, of Cabonitel SA/NOWO Communications SA, it is also stated in document. Digi Portugal will be able to use the frequencies after the approval of the Portuguese Competition Authority.

Recently, Bloomberg wrote that Digi Communications, controlled by Romanian tycoon Zoltan Teszari, will expand next year in Portugal and Belgium. The company has started building its fixed network in Portugal and said it is on track to launch services in the country in the second quarter of 2024, according to Economedia.

"Looking beyond 2023, we are excited to move forward with our entry into the markets of Portugal and Belgium, where we aim to replicate our model of affordable and high-quality services, thus ensuring continued growth in the European telecommunications landscape," he said. said Digi's general manager, Serghei Bulgac, in the company's official statement last month, according to the source.

For the first nine months of the year, Digi Communications reported revenues of almost 1.24 billion euros, 13% above those in the same period of 2022, while the year's profit from continuing operations amounted to 39.8 million lei, with 26% below that of the first three quarters of last year.

The stock market valuation of the telecommunications operator at BVB is 4.2 billion lei.