Virgin Media’s former finance director is behind a new company that plans to buy failing telecoms companies and turn them around.
Eamonn O’Hare says Zegona Communications will run a Buy-Fix-Sell strategy in the European TMT sector, focusing on network-based communications and entertainment opportunities.
It plans to raise £30 million on AIM to create a concentrated portfolio of sizeable assets with enterprise values in the range of £1 billion to £3 billion.
O’Hare, who will be both chairman and chief executive, was one of the prime movers in the cablenet’s $24 billion sale to Liberty Global. He had also been a finance director with UK retail giant Tesco. At Energis plc he helped the company’s turnaround and spent 10 years with Pepsico.
Joining O’Hare as chief operating officer is Robert Samuelson, who worked alongside him at Virgin.
