Vodafone to Sell Spanish Unit to Zegona Communications for Up to $5.3 Billion
31 Octubre 2023 - 1:46AM
Noticias Dow Jones
By Elena Vardon
Vodafone Group has agreed to sell its Spanish unit to Zegona
Communications for at least 4.1 billion euros ($4.35 billion) in
cash and up to EUR900,000 million in redeemable preference
shares.
The U.K.-based telecommunications group on Tuesday said that as
part of the deal, it also entered an agreement with the European
telecommunications investment company for Vodafone to provide
certain services to Vodafone Spain for a charge of around EUR110
million a year.
The transaction is set to complete in the first half of 2024,
subject to certain approvals from shareholders and regulatory
clearances.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
October 31, 2023 03:31 ET (07:31 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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