(Telecompaper) Spanish telecommunications group Masmovil, the country's fourth largest network operator, has announced the acquisition of ethnic MVNO Lebara Spain for EUR 55 million, adding a total of 423,000 new prepaid clients to a customer base that recently passed 7 million. Lebara started operations in Spain back in 2007 and reported revenues of around EUR 50 million over the past 12 months. In a statement Masmovil said it expects to obtain operational synergies from the transactions due to the reduction of the costs of Lebara's MVNO contract with Vodafone expiring in April 2019, which will result in a post-synergy EBITDA of around EUR 24 million.