UK’s Zegona eyes Vodafone Spain
September 22, 2023
From David Del Valle in Madrid
British telco investment company Zegona is negotiating with Vodafone of the acquisition of Vodafone Spain in an operation valued at over €5 billion. A possible deal would be subject to agreement on final terms and funding as well as a due diligence. According to Expansion, Zegona was seeking financing for a bid for all or 50 per cent of the Spanish division, which is currently undergoing a structural change. It is not the first time that Zegona has made a play into Spain. In 2015 it bought northern Spanish cable company Telecable. In 2017, it sold it to Euskaltel taking a stake in the new group that was finally sold to MásMóvil for €2 billion in 2021.