Digi Spain Considers IPO, Potential €200 Million Capital Increase
Romanian telecom group Digi is evaluating a potential initial public offering (IPO) of its Spanish subsidiary, with a possible capital increase of up to €200 million, according to statements made by Marius Varzaru, CEO of Digi Spain, on Thursday, March 5, 2026.
IPO as an Opportunity
Varzaru stated that the IPO is viewed as an “opportunity” to enhance the group’s investment capacity, and profitability. Although, he emphasized that the decision is not yet finalized. “It is not a critical and necessary objective for the company” but “we witness it as positive,” he noted during a meeting with media prior to the company’s investor day in Madrid.
Potential Capital Increase
Should Digi proceed with the IPO of its Spanish operations, a capital increase of between €150 million and €200 million is anticipated. The company has not yet specified the percentage of the subsidiary that would be offered to the public, nor has it set a definitive timeline for a decision.
No Sale to Telefónica
Serghei Bulgac, CEO of the Digi group, dismissed speculation about a potential sale of the company to Telefónica, stating there was “no reason to reckon about an operation of this type.”
Digi Spain’s Market Position and Growth
Digi currently holds a 13% market share in fiber and 12% in mobile telephony in Spain as of the end of the fourth quarter of 2025, according to company data. The company’s annual turnover in Spain has grown at a rate of 20% per year since 2023, driven by the expansion of its fiber network. Digi currently provides smart fiber coverage to 13.7 million homes, with a goal of reaching 21 million by 2030.
Client Growth and Network Expansion
Digi has been the fastest-growing operator in the Spanish market for the past 16 consecutive quarters in terms of net additions in fiber and mobile telephony. In 2025, the company achieved a net increase of 1.4 million mobile lines, reaching a total of 7.3 million lines – its best historical figure. Digi has surpassed Vodafone Spain in business broadband customers and aims to overtake them in the broader market as well.
The operator currently has 700 active antennas and plans to deploy 5,000 antennas by 2028, with an additional 5,000 antennas to reach a total of 10,000 by 2033.
Source: The Objective