Zegona completes Vodafone Spain acquisition
June 3, 2024
Zegona Communications has announce the completion of the acquisition of 100 per cent of Vodafone Spain for €5 billion. The deal was first announced in October 2023. Vodafone is the #3 telco player in Spain with significant market shares in mobile, broadband and TV.
Eamonn O’Hare, Zegona’s Chairman and CEO, commented: “We have now completed the acquisition of Vodafone Spain and look forward to transforming the business and returning it to growth. I am pleased to welcome José Miguel García to lead Vodafone Spain as CEO, reuniting a team that has a proven track record of highly successful operational transformations in Spanish telecoms. The new 10-year network access agreement signed with Finetwork earlier this week demonstrates our ability to move swiftly on our well-defined strategy. With our proven track record, we are confident we will improve the performance of Vodafone Spain whilst delivering significant value for shareholders.”
With immediate effect, José Miguel García is appointed as CEO of Vodafone Spain. Miguel García has a strong track record of creating value in the Spanish telecommunications market as CEO of Jazztel and CEO of Euskaltel.
The senior management team of Vodafone Spain has now been restructured. The size of the team has been reduced from 11 to seven, whilst recruiting four new executives. Miguel García’s new senior management team is as follows:
• Ángel Álvarez, the new Director of the Consumer Business Unit – former Chief Commercial Officer of Digi Spain
• Jose Ortíz Martínez, the new Director of Legal and Regulation – former Legal Director of Jazztel and Euskaltel
• Berta Álvarez Stuber, the new Director of Human Resources – former Human Resources Director of Euskaltel
• Eloy Rodrigo Gil will remain as Finance Director
• Jesús Suso will remain as Director of the Enterprise Business Unit
• Julia Velasco will remain as Network Director, but will also now manage IT systems and customer operation