Zegona lining up bid for Yoigo?

13 Nov 2015

Just a few months after acquiring Spanish cableco Telecable, Zegona, an investment vehicle set up by two former Virgin Media executives Eamonn O’Hare and Robert Samuelson, is said to be eyeing a deal for another Spanish telecoms provider, Expansion reports. According to the Spanish news outlet, Zegona is examining its options with regards to making an offer for mobile network operator Yoigo, which is currently majority owned by TeliaSonera of Sweden. Early talks between the relevant parties have reportedly begun, while it has been suggested that Yoigo could be valued at between EUR500 million and EUR700 million (USD562 million-USD787 million).

As previously reported by CommsUpdate, last month TeliaSonera was said to be resurrecting plans to sell its 77% stake in Yoigo, having previously abandoned the divestment of its shareholding in 2012 after offers for the cellco fell short of its expectations. The decision to reconsider the sale was said to have come about after the Stockholm-based company received interest from local telecoms operator MasMovil Ibercom and a number of unspecified private equity firms.

Spain, Telia Company, Xfera Moviles (Yoigo), Zegona