Coinciding with the Mobile World Congress (MWC) in Barcelona, MásMóvil has announced the acquisition of Neutra Networks, a subsidiary of Gala Capital and holder of a valuable 3.5 GHz license for 5G technology. This transaction positions the telecom operator, led by Meinrad Spenger, at the forefront of next-generation mobile communications development in Spain. The deal is still pending regulatory approval, and financial terms have not been disclosed.
With this acquisition, MásMóvil gains access to one of the limited spectrum licenses available in the 3.5 GHz band, along with Neutra’s existing infrastructure, including base stations and terminals. This gives the company a significant competitive edge in rolling out 5G services, which are essential for high-speed, low-latency applications such as the Internet of Things (IoT), autonomous vehicles, and mobile streaming.
The deal marks another milestone in the longstanding partnership between Gala Capital and MásMóvil. Their relationship began with the 2015 integration of Neosky (another Gala subsidiary), followed by the joint acquisition of Pepephone and Yoigo alongside Providence, and now culminates in this strategic move into 5G spectrum.
Gala Capital, chaired by Carlos Tejera, also manages the Innval fund, which includes participation from the Valencian Institute of Finance and currently reports capital gains of over 20%.
5G technology offers two key advantages over 4G: up to 100 times faster transmission speeds and a dramatic reduction in latency — potentially down to 1 millisecond compared to the current 50 milliseconds. These capabilities are critical for enabling a new generation of digital services.
In Spain, the 3.5 GHz band consists of 200 MHz divided into 40 MHz blocks, currently held by Movistar, Orange, Eurona, and now MásMóvil (via Neutra). Another 40 MHz is reserved for the Ministry of Defense and guard bands.
This move gives MásMóvil a strong position ahead of the upcoming public frequency auction scheduled for the spring. The Ministry of Energy, Tourism, and Digital Agenda — headed by Álvaro Nadal — is set to auction additional spectrum in the 700 MHz, 1.5 GHz, and 3.5 GHz bands. Thanks to its existing fiber network partnership with Orange, MásMóvil may choose to bid jointly or even abstain from the auction, already holding a total of 80 MHz before the bidding process.
