Med Telecom/Auna Group
Initial investment date: May 1997
Realisation date: December 2005
Trade: Cable TV, Broadband and Telephony
Business description:
At the time of GMT's involvement, Med Telecom/Auna Group was a cable television operator and telecoms CLEC based in key cities in the Southern Valencia region of Spain. It owned a long-established broadband cable system in Elche, plus smaller franchises in Alicante and two suburbs of Valencia. These networks entitled Med Telecom to renewable cable licences and gave it a platform to develop additional telecoms networks and services. Med Telecom had a telecom operator licence covering the Elche and Alicante urban regions, and it was building a modern network, optimised for voice, data, IP and television services.
In December 2002, Med Telecom was merged into the leading Spanish cable television operator AUNA Telecomunicaciones, in an equity swap. This stake was subsequently exchanged in May 2004 for a stake in AUNA Group, which also owned Amena, Spain’s third largest mobile operator. The mobile operations, Amena, were sold to France Telecom in July 2005 and the fixed line and cable TV assets of Auna Group were sold to ONO in November 2005, completing in December 2005.
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