--- title: "M&A Monthly: February/March 2026" description: A monthly update on international retail telecom mergers and acquisitions, fueled by TeleGeography's GlobalComms Database. image: https://resources.telegeography.com/hubfs/M%26A%20Monthly.png --- [![TG\_LOGO](https://resources.telegeography.com/hubfs/TeleGeography%20Hub%20Theme%20Nov%202025/images/TG_LOGO.svg)](https://www2.telegeography.com/) - [About](https://www2.telegeography.com/about-us) - [Research](https://www2.telegeography.com/our-research) - [Products](https://www2.telegeography.com/products) - [Solutions](https://www2.telegeography.com/solutions) - [Resources](https://resources.telegeography.com) [Log In](https://www.telegeography.com/login/login?service=https%3A%2F%2Fwww.telegeography.com%2Faccount%2Fhome%2Findex) [Contact](https://www2.telegeography.com/contact-us) ###### Data and Analysis Tools - [Cloud and WAN Research Service](https://www2.telegeography.com/cloud-and-wan-infrastructure) - [Data Center Research Service](https://www2.telegeography.com/data-center-research-service) - [GlobalComms Database](https://www2.telegeography.com/globalcomms-database-service) - [International Voice Report](https://www2.telegeography.com/telegeography-report-and-database) - [IP Networks Research Service](https://www2.telegeography.com/ip-networks-research-service) - [ISP Navigator](https://www2.telegeography.com/isp-navigatorisp-navigator) - [Transport Networks Research Service](https://www2.telegeography.com/transport-networks) - [Network Pricing Database](https://www2.telegeography.com/telegeography-pricing-database) - [WAN Cost Benchmark](https://www2.telegeography.com/wan-cost-benchmark) - [Product Passes](https://www2.telegeography.com/product-passes) ###### Consulting - [All Consulting Services](https://www2.telegeography.com/consulting) - [Submarine Cable Consulting](https://www2.telegeography.com/submarine-cable-consulting) ###### Maps - [All Map Services](https://www2.telegeography.com/map-services) - [Sponsor a Map](https://www2.telegeography.com/sponsor-a-map) - [License Map Data](https://www2.telegeography.com/license-geocoded-map-data) - [Cite a Map](https://www2.telegeography.com/cite-telegeography-map) - [Buy a Map](https://shop.telegeography.com/collections/telecom-maps/) ###### Industry - [Enterprise](https://www2.telegeography.com/enterprise) - [Tech](https://www2.telegeography.com/tech) - [Telecom](https://www2.telegeography.com/telecom) ###### Case Studies - [AI + Retail Telecom Data](https://www2.telegeography.com/where-to-get-global-telecom-data) - [EXA Infrastructure](https://www2.telegeography.com/exa-infrastructure-case-study) - [Orange Wholesale](https://www2.telegeography.com/orange-wholesale-case-study) - [The European Commission](https://www2.telegeography.com/the-european-commissions-data-backed-approach-to-international-policy) [Back to Resources](https://resources.telegeography.com) # M&A Monthly: February/March 2026 ##### By [Pete Bell,](https://resources.telegeography.com/author/pete-bell) Mar 05, 2026 [Networks](https://resources.telegeography.com/tag/networks) [Retail](https://resources.telegeography.com/tag/retail) Fresh from TeleGeography's [GlobalComms](https://www2.telegeography.com/globalcomms-database-service) team is this month's edition of M&A Monthly—your intelligence report on international telecom mergers and acquisitions. From space-based AI to sub-terrestrial fiber, the market is buzzing with activity as players look to consolidate, equitize, or simply launch themselves into the stratosphere. Here's a run-down of recent developments. ## Europe We start our trawl in **Europe**, where the **UK**’s fiber landscape is being reshaped by a [substantial connection](https://infraviacapital.com/infravia-liberty-global-and-telefonica-acquire-substantial-group-for-2-billion-through-their-existing-joint-venture-nexfibre/). **InfraVia**, **Liberty Global** and **Telefonica** have dialed up an agreement to acquire **Substantial Group** – parent of Netomnia, Brsk and YouFibre – via their joint venture, **nexfibre**. Billed as the UK’s second largest altnet, the deal carries an enterprise value of £2 billion ($2.7 billion). As part of the digital house-cleaning, nexfibre will sell the retail brands to **Virgin Media O2 (VMO2)** for £150 million, while VMO2 nets £1.1 billion in cash and a 15% stake in nexfibre in exchange for a massive wholesale commitment. Completion of the transaction is subject to regulatory approvals and is expected by Q3 2026. The **Netherlands** market has also been particularly ‘clogged’ with activity this month. **Liberty Global** has decided to go Dutch permanently, [striking a deal](https://www.libertyglobal.com/liberty-global-to-acquire-vodafones-stake-in-vodafoneziggo-and-transfer-regional-benelux-assets-into-new-company-called-ziggo-group/) to buy **Vodafone’s** 50% stake in their **VodafoneZiggo** joint venture for €1.0 billion ($1.18 billion). Liberty plans to list the newly formed **Ziggo Group** in Amsterdam in 2027, effectively spinning the business off to shareholders. Not everyone's finding the public markets so inviting, however; Dutch operator **Odido** has reportedly shelved its own €1 billion IPO plans after receiving a muted response from investors concerned about global volatility. The telco, owned by private equity groups **Apax Partners** and **Warburg Pincus**, was set to launch the IPO in early 2026. Meanwhile, in **Germany**, **Telefonica** is reportedly still calling for a deal with **1&1**, with negotiations formalizing for an acquisition valued at up to €5 billion to address network utilization issues. ## Americas Crossing the Atlantic to the **US**, where regulators have finally finished their paperwork. The FCC has [given the green light](https://www.fcc.gov/document/fcc-approves-charter-cox-combination) to **Charter Communications’** massive $34.5 billion acquisition of **Cox Communications**. To win over the Bureau, Charter promised to onshore all customer service jobs, invest heavily in rural builds and to introduce new DEI anti-discrimination safeguards. ### (With a short trip to space) Looking further up – specifically into orbit – Elon Musk-backed satellite giant **SpaceX** [is merging with](https://x.ai/news/xai-joins-spacex) AI start-up **xAI** in a deal that values the latter – best known for its controversial Grok chatbot – at $125 billion and the combined ‘innovation engine’ at a cool $1 trillion. Elon Musk argues that solar-powered orbital data centers are the only way to scale AI without breaking the terrestrial power grid. ### (And now back to the Americas) Turning our focus to **Latin America**, there's a clear trend of infrastructure ‘towering’ over other deals. **IHS Towers** is [packing its bags](https://www.macquarie.com/fr/en/about/news/2026/macquarie-asset-management-to-acquire-south-american-tower-operations-of-ihs-towers.html) in the region, selling its operations in **Brazil** and **Colombia** to **Macquarie Asset Management** for $952 million. This exit clears the deck for **MTN Group** to fully acquire [the rest of the IHS business](https://www.mtn.com/mtn-group-announces-proposed-acquisition-of-ihs-towers/) globally in a $6.2 billion deal. IHS operates almost 29,000 towers in five key MTN markets across Africa. Sticking with **Brazil**, this month it emerged that funds linked to **BTG** are the only parties to show interest in **Oi’s** 27.26% stake in fiber wholesaler **V.tal**, which carries a minimum price tag of R$12.315 billion ($2.37 billion). Further north in **Paraguay**, meanwhile, the race to revitalize state-owned **Copaco** has narrowed to four contenders, including India’s **Jio** and the UAE’s **TALC Investment**, as the government hunts for a strategic partner to bankroll fiber deployments. ## Asia Heading over to **Asia**, data centers are the hottest commodity on the menu. In the largest deal of its kind in Southeast Asia, a **Singtel-KKR** consortium is [paying S$6.6 billion](https://www.singtel.com/about-us/media-centre/news-releases/kkr-led-consortium-with-singtel-group-to-fully-acquire-st-telemedia-global-data-centres) ($5.2 billion) to take full control of **ST Telemedia Global Data Centres (STT GDC)**. Completion is expected in the second half of 2026, subject to customary closing conditions including regulatory approvals. Not to be outdone, **Telkom Indonesia** is making its fourth attempt to find a partner for its own data center unit, **NeutraDC**, seeking a valuation of up to $1.5 billion. The sale comes as Telkom looks to unlock value from its infrastructure portfolio and fund capital-intensive expansions, following the $2.1 billion spin-off of its wholesale fiber unit, **Telekom Infrastruktur Indonesia (TIF)**, in late 2025. In **Vietnam**, the government is pushing for progress on a different front, issuing a decree to fast-track the ‘equitization’ (partial privatization) of **VNPT** as part of a plan to create state economic groups capable of competing on the world stage by 2030. [TeleGeography’s GlobalComms Database](https://www2.telegeography.com/globalcomms-database-service) notes that VNPT has been earmarked for equitization for a number of years, and has already undergone restructuring as part of government efforts to reorganize state-owned companies to improve competition and efficiency. ## Rest of the world Down in **Oceania**, the market is bundling up for winter. **Aussie Broadband** has [signed an agreement](https://wcsecure.weblink.com.au/clients/aussiebroadband/v2/headline.aspx?headlineid=3686858) to acquire **AGL Energy’s** telecommunications business for A$115 million ($81 million) in shares, adding 396,000 broadband, mobile and fixed voice subscriptions to its base. Across the Tasman Sea, **New Zealand**’s **Spark** has [finalized the sale](https://www.spark.co.nz/online/about/our-company/news/Spark-completes-sale-of-data-centre-business-to-PEP) of a 75% stake in its data center business to **Pacific Equity Partners (PEP)** for NZ$705 million ($428 million), forming a new standalone entity named **TenPeaks Data Centres**. Finally, we close the month with a quick look at **Africa** and the **Middle East**. In **South Africa**, open-access provider **Frogfoot** has [hopped into the KwaZulu-Natal market](https://www.frogfoot.co.za/news/frogfoot-expands-its-kzn-footprint-with-the-acquisition-of-fibre-assets-from-mitsol/) by acquiring **Mitsol’s** fiber network for an undisclosed sum. Meanwhile, **Zain Bahrain** is looking to move ‘4WARD’ by acquiring 100% of local ICT provider **Infonas**, a move designed to accelerate the operator's expansion into enterprise cloud and cybersecurity services. Catch more M&A developments from the [GlobalComms](https://www2.telegeography.com/globalcomms-database-service) team next month! ## Data on mobile markets, fixed broadband, fixed voice markets, and more At TeleGeography, we're the telecom data people— [![GlobalComms product 1.12 3](https://resources.telegeography.com/hs-fs/hubfs/Website/Product%20Screenshots/GlobalComms%20product%201.12%203.png?width=350&height=239&name=GlobalComms%20product%201.12%203.png)](https://www2.telegeography.com/globalcomms-database-service)the experts from whom industry leaders get their data. You can get more analysis like this (and the data behind it) with a subscription to TeleGeography's [GlobalComms Database](https://www2.telegeography.com/en/globalcomms-database-service). And with this subscription, you also get daily CommsUpdate emails: a curated telecom news service produced by our team.   [![See GlobalComms Database](https://no-cache.hubspot.com/cta/default/594292/interactive-208716878756.png)](https://resources.telegeography.com/hs/cta/wi/redirect?encryptedPayload=AVxigLKFJw5nkuFSyhcnhHOM6L4UmQn3HGJdf7jcHI55phzKa9PnXYqCfdEBBMPPu7r3yZD5z479%2FklBAKiq8QmZ64%2Bsr6CSKvHTstlgGaS%2FRE6H%2BmyLLHFF9A7Y%2Bv6yG%2FsfmpL6Sr6YkpSo44f3K4E%2Bl%2FG2KdaCndtr5BbtB%2FeiPXgLfyDzlKd91HOQmDSSpP3Snylh98KGiAkNMXomQAhrvPFZixGWUzN%2BnsYbvE30atKL&webInteractiveContentId=208716878756&portalId=594292)     ![Pete Bell](https://resources.telegeography.com/hubfs/tg-staff/pete-bell-telegeography.png) #### Pete Bell Pete Bell is a Senior Analyst for TeleGeography’s GlobalComms Database and also contributes to the daily CommsUpdate newsletter. He has a particular interest in wireless broadband and was responsible for TeleGeography’s 4G Research Service until it was integrated into GlobalComms. [View Pete Bell Work](https://resources.telegeography.com/author/pete-bell) ## Explore Related Content ![Mobile and Fixed Broadband Sectors Continued To Grow in 2023](https://resources.telegeography.com/hubfs/2024/Blog%20Assets/AdobeStock_122647466-1.jpeg) ###### Blog Apr 18, 2024 #### [Mobile and Fixed Broadband Sectors Continued To Grow in 2023](https://resources.telegeography.com/mobile-and-fixed-broadband-sectors-continued-to-grow-in-2023) According to TeleGeography’s GlobalComms Database, the global mobile subscription total stood at 8.74... 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[View More by Pete Bell](https://resources.telegeography.com/author/pete-bell) [Read Full Article](https://resources.telegeography.com/2025-mobile-market-summary) [![TG\_LOGO\_color\_horizontal\_SIMPLIFIED 1](https://resources.telegeography.com/hubfs/TeleGeography%20Hub%20Theme%20Nov%202025/images/TG_LOGO_color_horizontal_SIMPLIFIED%201.svg)](https://www2.telegeography.com/) [Login](https://www.telegeography.com/login/login?service=https%3A%2F%2Fwww.telegeography.com%2Faccount%2Fhome%2Findex) [Contact Us](https://www2.telegeography.com/contact-us) ###### [About](https://www2.telegeography.com/about-us) - [Research](https://www2.telegeography.com/our-research) - [Products](https://www2.telegeography.com/products) - [Solutions](https://www2.telegeography.com/solutions) - [Demo](https://www2.telegeography.com/demo) ###### [Press](https://www2.telegeography.com/telegeography-press) - [Events](https://www2.telegeography.com/telecom-events) - [Careers](https://www2.telegeography.com/careers) ###### [Resources](https://resources.telegeography.com/) - [Podcast](https://www2.telegeography.com/telegeography-explains-the-internet-podcast) - [Newsletter](https://www2.telegeography.com/subscribe-to-telegeography-emails) - - All Rights Reserved 2026 - [Privacy Policy](https://www2.telegeography.com/privacy-policy) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Pete Bell", "url" : "https://resources.telegeography.com/author/pete-bell" }, "dateModified" : "2026-03-05T13:46:13.388Z", "datePublished" : "2026-03-05T12:30:00.000Z", "headline" : "M&A Monthly: February/March 2026", "image" : [ "https://resources.telegeography.com/hubfs/M&A%20Monthly.png" ], "mainEntityOfPage" : { "@id" : "https://resources.telegeography.com/mergers-acquisitions-february-march-2026", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://resources.telegeography.com/hubfs/assets/telegeography/telegeography-logo-blog.png" }, "name" : "TeleGeography" } } ``` ```json { "@context" : "https://schema.org/", "@type" : "WebSite", "image" : "https://www2.telegeography.com/hubfs/Website/assets/logo/telegeography-logo.svg", "name" : "M&A Monthly: February/March 2026", "potentialAction" : { "@type" : "SearchAction", "query-input" : "required name=search_term_string", "target" : "{search_term_string}" }, "url" : "https://resources.telegeography.com/mergers-acquisitions-february-march-2026" } ```