TIDMZEG

RNS Number : 5283N

Zegona Communications PLC

20 May 2020

NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OR TO ANY US PERSON, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN SPAIN) OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION, PUBLICATION OR RELEASE WOULD BE UNLAWFUL.

ZEGONA COMMUNICATIONS PLC ("Zegona")

LEI: 213800ASI1VZL2ED4S65

20 MAY 2020

EUSKALTEL LAUNCHES VIRGIN NATIONALLY ACROSS SPAIN

National Expansion: Euskaltel today announced that it is launching services nationally across Spain under the "Virgin telco" brand, reaching the 85% of the Spanish market where Euskaltel is not present today. This will enable Euskaltel to offer services to over 18 million homes.

Full Quad-Play Service: Virgin telco offers a full quad-play range of telecommunications services including high quality high speed FTTH broadband, data-rich mobile, landline and 4K premium TV.

Value Focused, Innovative Offer: Virgin telco allows customers to select exactly the services they want in order to design their own product bundle, rather than having to take inflexible packages defined by the operator. The result is much better value for customers as they don't have to pay for services they don't really want.

Significant Growth Expected: Euskaltel has announced that under its 2020-25 Business Plan it is aiming to nearly double its revenues by 2025 from EUR685 million to EUR1.3 billion, with over EUR500 million coming from the new Virgin telco service.

Further details on the Virgin telco service launch can be found on the Euskaltel website at: www.euskaltel.com/CanalOnline/investors .

Enquiries

Tavistock (Public Relations adviser)

Tel: +44 (0)20 7920 3150

Lulu Bridges - lulu.bridges@tavistock.co.uk

Jos Simson - jos.simson@tavistock.co.uk

About Zegona

Zegona was established in 2015 with the objective of investing in businesses in the European Telecommunications, Media and Technology sector and improving their performance to deliver attractive shareholder returns. Zegona is led by former Virgin Media executives Eamonn O'Hare and Robert Samuelson.

About Euskaltel

Euskaltel S.A. ("Euskaltel") is the leading converged telecommunications provider in the North of Spain, with its network covering 2.3 million households. It provides high speed broadband, data-rich mobile, advanced TV and fixed communications services to residential and business customers under the Euskaltel, R Cable and Telecable brands. During 2020, Euskaltel is expanding its addressable footprint to over 18m households through its national expansion plan using the "Virgin telco" brand. Euskaltel is a public company traded on the stock markets of Bilbao, Madrid, Barcelona and Valencia.

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May 20, 2020 11:09 ET (15:09 GMT)

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