Fast-food tycoon to buy Jazztel stake

24 Sep 2004

Leopoldo Fernandez Pujals, the founder of the Telepizza fast-food chain who sold his interest in the operation in the late 1990s, is to buy a 24.9% holding in Spanish telecoms operator Jazztel. Fernandez Pujals will buy the stake through a capital increase. Jazztel has been looking for an equity injection as it emerges from a long-winded restructuring process. The company posted a loss of EUR17.9 million in the second quarter of 2004 on turnover of EUR51.8 million.

Spain, Jazztel