The CNMC maintains Telefónica, Orange, Vodafone, and Digi as leaders in fixed and mobile; Colt remains fifth in fixed, and Wewi Mobile (Finetwork) enters as the fifth main operator in mobile, displacing Aire Networks.
The National Commission on Markets and Competition (CNMC) has updated its annual list of main operators in fixed and mobile telephony for case OP/DTSA/001/25. The regulator confirms that Telefónica, Orange, Vodafone, and Digi continue to hold the top four spots in both markets. However, the fifth position diverges again: Colt in fixed and Wewi Mobile (Finetwork) in mobile, replacing Aire Networks compared to the previous statement.
What the December 2024 article said (and what has changed now)
In December 2024, based on 2023 data, the main operators list included:
- Fixed: Telefónica, Orange, Vodafone ONO, Digi, Colt.
- Mobile: Orange, Telefónica Móviles, Vodafone Spain, Digi, Aire Networks (Aire Group).
With the new publication (October 2, 2025), now based on 2024 data, the competitive landscape remains unchanged in fixed (Colt stays fifth), but it does change in mobile: Wewi Mobile (Finetwork) enters and Aire Networks drops out of the “top 5”. The CNMC explicitly highlights this change compared to the previous year.
Why does the mobile operator in fifth place change?
The methodology used by the CNMC relies on the number of subscriber lines (considered by the regulator as the best indicator of actual market share), aggregating lines by corporate groups after analyzing mergers and acquisitions. All of this with a national scope as reference. For this report, 2024 data from the Sectoral Economic Report 2024 published in July 2025 was used. The new count places Wewi Mobile (Finetwork) as the fifth main mobile operator, ahead of Aire Networks.
Quick summary: the threshold to “enter” the list isn’t based on a fixed percentage, but on being among the five operators with the most lines in the mobile market. In 2025, Finetwork crosses that threshold, and Aire falls behind.
Leading companies remaining (and the MasOrange effect)
In fixed and mobile, the top four are Telefónica, Orange, Vodafone, and Digi. In fixed, the fifth remains Colt; in mobile, it’s now Finetwork. Additionally, the CNMC reminds that MasOrange, S.L. is not designated as a main operator because it is not registered in the Operator Registry. Orange and MásMóvil registrations remain, and within the merged group, Orange holds the “principal” status by market share.
What does being a “main operator” entail?
It’s not just a label: it triggers restrictions in accordance with Royal Decree-Law 6/2000 to prevent anti-competitive effects. Any individual or legal entity with more than 3% of capital or voting rights in two or more main operators in the same market must notify the CNMC (within one month) about which operator they will exercise full rights in. In the remaining operators, exceeding votes cannot be used, nor can directorships be appointed in more than one main operator in the same market, unless authorized by the regulator.
Key Timeline
- December 2024 (data from 2023)
Fixed: Telefónica · Orange · Vodafone ONO · Digi · Colt
Mobile: Orange · Telefónica Móviles · Vodafone · Digi · Aire Networks - October 2025 (data from 2024)
Fixed: Telefónica · Orange · Vodafone ONO · Digi · Colt
Mobile: Orange · Telefónica Móviles · Vodafone · Digi · Wewi Mobile (Finetwork).
Competitive implications: what to expect
- Digi’s consolidation among the top four will push competition on price and packages in both markets.
- MVNO growth: The entry of Finetwork into the mobile “top 5” confirms that a wholesale model with brand and segmentation can increase market share.
- Strong corporate segment for Colt in fixed, explaining its continued presence as the fifth player.
- MasOrange: The registry classification still guides formal designation, but group aggregation in market share calculations prevents duplication.
Frequently Asked Questions
How often is the main operators list updated?
Annually. The CNMC publishes the top five by lines in fixed and mobile based on the previous year’s Sectoral Economic Report.
Why does Finetwork now enter and Aire Networks exit?
Because, based on 2024 data and the number of lines criterion, Wewi Mobile (Finetwork) ranks fifth in mobile, surpassing Aire in this edition.
Does the Orange–MásMóvil merger still have an effect?
Yes. For market share purposes, the CNMC aggregates by group; however, MasOrange is not officially designated as “main” as it is not registered, so Orange retains the “principal” status within the group.
What should shareholders with cross-positions (>3%) monitor?
They must notify the CNMC which operator they will exercise full rights in and limit their voting and appointment rights elsewhere, unless authorized by the regulator.
Official source: CNMC press release (October 2, 2025), “CNMC publishes the list of main operators in fixed and mobile telephony markets”. Methodology, tables, and legal obligations are detailed in the document.
via: Telefonos news