Telefónica broadens its horizon of vision and returns to bet for the security market. The company chaired by José María Álvarez-Pallete announced today that has acquired a 50% stake in Prosegur Alarms , a transaction valued at 300 million euros the teleco could pay, fully or partially, in shares of treasury stock. In that case, and taking into account the current price at which Telefónica is listed (6,72 euros), Prosegur would have 0.8% of the share capital of the operator.
The agreement means that both companies manage jointly the business of the alarms , as have explained in a press release. The aim of the alliance, which is still pending approval by the relevant authorities, is to "accelerate the development of the business of alarms in Spain", an area which, as reported by the companies, "has experienced significant growth rates in recent years."
this is Not the first time that the Spanish multinational is drawn into the world of the security of the hand of the big brands in the industry.
In 2015, Telefonica signed a trade agreement with Securitas Direct through which included in their packages Merger, the alarm of the home for a price of 25 euros per month. The results disappointed expectations, which resulted in that relationships rompiesen three years later.
Now Securitas enjoys half of the market share in Spain, while Prosegur treasure to be around 10% . "Together with Telefónica we will work to develop a new proposal for services to be more comprehensive and innovative for our customers", indicated the managing director of Prosegur, Christian Gut.Rise in Bag
The agreement with Telefónica has driven the price of Prosegur in the continuous market. The company has closed the session with the greatest hike of the parquet, to be logged by 9.9% . Even so, his titles have lost more than 12% of its Stock market value so far this year. The news has caused less effect on Telefónica, which has only advanced a 0,78%.Updated Date: 19 September 2019, 05:00