Advanced Television

Aberforth takes Zegona stake

January 10, 2020

Telecommunications, Media and Technology sector investor Zegona, the largest shareholder in Spanish multiplay operator Euskaltel, has announced that investment management firm Aberforth Partners has joined its other leading global investors with a shareholding of over 6 per cent.

“We are delighted that Aberforth has become one of Zegona’s top 10 shareholders,” declared Eamonn O’Hare, Chairman and CEO of Zegona. “Since early December, when we highlighted the 46 per cent difference between our share price and the Underlying Asset Value per Share, we have seen strong momentum in our shares, with Aberforth and other high quality investors making large new investments. We look forward to working on behalf of all our investors to increase the value of our core asset through bringing positive change and renewed ambition to the Euskaltel business.”

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