Zegona Communications PLC CNMV Authorises MasMovil Takeover Bid of Euskaltel (4931E)
07 Julio 2021 - 6:05AM
UK Regulatory
TIDMZEG
RNS Number : 4931E
Zegona Communications PLC
07 July 2021
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ZEGONA COMMUNICATIONS PLC ("Zegona")
LEI: 213800ASI1VZL2ED4S65
7 July 2021
CNMV Authorises MasMovil Takeover Bid for Euskaltel, S.A.
On 5 July 2021, the Spanish National Securities Market
Commission (CNMV) authorised the voluntary takeover bid for the
shares of Euskaltel, S.A. submitted by MasMovil. The acceptance
period for the takeover bid will be from 7 July 2021 to 30 July
2021, inclusive.
Further information on the bid is set out in the prospectus in
relation to the bid, which is available on the CNMV's website.
Enquiries
Tavistock (Public Relations adviser - UK)
Tel: +44 (0)20 7920 3150
Lulu Bridges - lulu.bridges@tavistoc.co.uk
Jos Simson - jos.simson@tavistock.co.uk
About Zegona
Zegona was established in 2015 with the objective of investing
in businesses in the European Telecommunications, Media and
Technology sector and improving their performance to deliver
attractive shareholder returns. Zegona is led by former Virgin
Media executives Eamonn O'Hare and Robert Samuelson.
Zegona's first transaction was the EUR640m acquisition of
Telecable in August 2015, the leading quad-play telecommunications
operator in Asturias, Spain. In 2017, Zegona sold Telecable for a
total consideration of up to EUR701 million to the northern Spanish
telecoms group Euskaltel. As part of the transaction, Zegona
returned GBP140 million of capital to its shareholders and became a
15% shareholder in Euskaltel.
In 2019, Zegona became the largest shareholder in Euskaltel and
through the introduction of José Miguel García as CEO implemented a
plan to drive significant change in the business including the
introduction of the Virgin telco brand to expand nationally.
About Euskaltel
Euskaltel is the leading converged telecommunications provider
in northern Spain and has recently expanded to offer services
nationally. It provides high speed broadband, data-rich mobile,
advanced TV and fixed communications services to residential and
business customers under the Euskaltel, R Cable, Telecable and
Virgin telco brands. Euskaltel is a public company traded on the
stock markets of Bilbao, Madrid, Barcelona and Valencia.
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July 07, 2021 07:05 ET (11:05 GMT)
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