Zegona has entered into a deal contingent forward purchase agreement with Barclays Bank to hedge the full amount it expects to receive following the sale of 100% of the Spanish cable operator Euskaltel to a wholly owned subsidiary of MasMovil Ibercom.
Spain’s MasMovil has made a cash offer of €11.17 per share to acquire 100% of the cable operator Euskaltel.
Zegona has announced a buyback programme of its ordinary shares in the Spanish cable operator Euskaltel for an aggregate purchase price of up to £10 million.
Zegona has announced its intention to appoint Kjersti Wiklund and Suzi Williams as non-executive directors, effective February 5.
The Spanish cable operator Euskaltel’s new CEO José Miguel has “made a fast start with significant progress” in his first month.
Zegona has announced that it is making significant progress in its strategy to return the Spanish cable operator Euskaltel to growth.
José Miguel Garcia, Zegona’s proprietary director on the board of Spain’s Euskaltel, has been appointed Euskaltel’s CEO in place of Francisco Arteche.
The UK venture capital fund Zegona expects to complete the acquisition of a further 14.9% stake in the Basque cable operator Euskaltel in the first week of February 2019.
Virgin Mobile is preparing to enter the Spanish market through what would be a partial take-over of the Basque cable operator Euskaltel by the venture capital firm Zegona.
Consolidation in Spain’s cable industry is gathering pace, with the board of Euskaltel agreeing to the acquisition of Telecable and Zegona as a 15% shareholder in the newly expanded Euskaltel Group.