Transaction support
We use our understanding of TMT markets, technologies and regulation to support M&A and debt transactions.
The TMT sector continues to evolve at a rapid pace, leading to frequent changes in market environments and requiring constant technological innovation. This unique environment presents both business opportunities and strategic challenges to our clients.
We use our deep understanding of the sector, technologies and regulation to support M&A and debt transactions, often working alongside our client’s other professional service advisors, including investment banks and lawyers.
Our senior team members have led over 50 M&A and debt transaction-support assignments across the world for transactions ranging in value from USD0.5 to 10 billion.
Our transaction support services
Commercial due diligence
We review entities’ revenue, cost projections, and perform an in-depth market assessment, to identify any ‘red flags’ which are then investigated in detail.
Technical due diligence
We review the operational performance of networks and the age and quality of equipment used on networks, to better inform investment and strategic decision making.
Synergy assessment
We assess network and non-network synergies for combined assets; for example, proposed in-country mergers of mobile operators or tower portfolios.
Vendor due diligence
We work for sellers of assets (e.g. tower portfolios, telecoms operators, spectrum portfolios) to independently assess the business plans for the standalone entities/assets.
Network integration strategy
We assess long-term network requirements to aid business and financial planning. We also provide support throughout the procurement process for integration activities.
Our project experience
Dtac-True network consolidation planning
Aetha developed a detailed model of network synergies available from the merger of dtac and True and supported with integration planning.
Network synergies from Sprint-T-Mobile merger
Aetha undertook an assessment of the potential network synergies arising from the merger of Sprint and T-Mobile USA ahead of the eventual deal.
Due diligence of mobile and fixed operator
Aetha undertook a due diligence review of 2degrees’ operations in New Zealand ahead of its acquisition by Alignvest (now Trilogy International).
Due diligence ahead of debt financing
Independent due diligence of a Canadian mobile operator’s business plan in support of a debt transaction, supported by export credit agencies.
Relevant articles and reports
What does the Netomnia-Brsk tie-up tell us about UK altnet consolidation?
19 June 2024
UK FTTH altnets Netomnia and Brsk have agreed to merge operations, creating a fibre builder with 1.5 million homes passed and 140 000 customers. Both parties retail fibre […]
The impact of a Vodafone/Three merger on the UK fibre market
18 March 2024
In June 2023, Vodafone and Three UK announced their intention to create the UK’s biggest mobile network operator.[1] The proposal is still under investigation by […]
Wind Tre’s RANco sale – a template for infrastructure investment?
23 February 2024
EQT’s attempt to acquire Wind Tre’s Radio Access Network may not have come to fruition, but it would have established one of the first independent RANco in Europe. […]
A new direction in European telco merger policy?
16 February 2024
For years, the European Commission has resisted consolidation but are we about to see a new direction in favour of scale?
The Commission’s highly anticipated white paper on […]
