The British fund Zegona is in “talks” to acquire Vodafone’s business in Spain | EUROtoday

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The firm, which values ​​Vodafone Spain at 5,000 million euros, confirmed its intention to perform the operation on the London Stock Exchange

Vodafone store in Madrid.
Vodafone retailer in Madrid.Eduardo ParraEuropa Press

Zegona Communications has confirmed to the London Stock Exchange his intention to purchase the business in Spain of Vodafone. It could be a reverse takeover, though in the assertion the corporate has additionally indicated that “there is no certainty” that the operation might be carried out.

The entity additionally factors out that it is in talks with a number of banks relating to potential financing of the operation, which was superior by Expansin. At 08:00 on Friday, Zegona requested the suspension of his contribution. The agency already carried out a reverse acquisition to acquire the Australian telecable operator – for an quantity of 640 million – in 2015, in accordance to this identical medium.

“The company confirms that it is in discussions with Vodafone Group plc (“Vodafone”) in relation to the Potential Acquisition, and with banks in relation to its financing,” the assertion particulars. The “potential” acquisition, they clarify, “remains subject to, among other things, an agreement on final terms with Vodafone, completion of its exercise of due diligence and formalization of financing agreements.” Therefore, the doc continues, “there is no certainty that the potential acquisition will be carried outnor regarding the final terms of said potential acquisition.

The British fund estimates that the value of Vodafone Spain is above 5,000 million euros. Zegona entered the sector in Spain when it bought Telecable’s business in the country – it sold it in 2017 – and also owned 21% of Euskaltel, after increasing its participation in 2019, although in 2021 MsMvil carried out a takeover bid for the company.