Zegona increases Euskaltel stake to 21%

9 Apr 2019

British investment firm Zegona has announced that it has increased its stake in Spanish regional operator Euskaltel from 15% to 21%. The National Securities Market Commission (Comision Nacional del Mercado de Valores, CNMV) has been notified, as Zegona’s enlarged stake passes the 20% threshold for disclosure.

Zegona – which acquired its stake in the regional cableco following the EUR701 million sale of Telecable de Asturias to Euskaltel in July 2017 – was established in 2015 with the objective of acquiring businesses in the European telecoms, media and technology sectors and using a ‘Buy-Fix-Sell’ strategy to deliver attractive shareholder returns.

Spain, Euskaltel Group (incl. R Cable and Telecable), Zegona