Vodafone Group PLC and MásMóvil Ibercom SA denied reports that the latter is looking to buy Vodafone España SAU, Reuters reported.
In a statement, a MásMóvil spokesman said the company is "not working on a process to buy, merge or create a joint venture with Vodafone Spain." A Vodafone spokesman also said "there is no truth" to the talks.
The statement comes after MásMóvil was reported to be working with Goldman Sachs Group Inc. in conducting discussions with Vodafone for the sale of its Spanish business for about €6 billion, sources close to the matter told El Confidencial.
According to the report, MásMóvil was also working with consultancy firm McKinsey & Co. Inc. on a strategic plan that estimated synergies worth €2 billion.