Zegona Communications Confirms Talks to Buy Vodafone's Spanish Unit -- Update
22 September 2023 - 9:39PM
Dow Jones News
By Christian Moess Laursen
Zegona Communications confirmed it is in discussions with
Vodafone Group regarding a potential acquisition of the U.K.-based
telecommunications group's Spanish business, the company said
Friday.
The confirmation follows a report by Spanish business newspaper
Expansion that the European telecommunications-investment company
is planning to buy a 50% stake in the unit, in a deal that would
value the business at more than 5 billion euros ($5.33
billion).
Zegona Communications' shares have been temporarily suspended
from trading on the London Stock Exchange until the potential
takeover is completed.
There is no certainty the potential acquisition will proceed nor
to the terms of any such acquisition, the company said.
Vodafone didn't immediately respond to a request for comment
when contacted by Dow Jones Newswires.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
September 22, 2023 07:24 ET (11:24 GMT)
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