Spanish Telecoms Get Shakeup From Buyout Vehicle
- Zegona buying Vodafone unit at what some see as bargain price
- Spain’s M&A activity could trigger wave of consolidation in EU
A Vodafone store in Barcelona.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Zegona Communications Plc, a little-known buyout firm founded by two former Virgin Media executives, is working to buy and flip Spanish telecom assets in a challenge to incumbents that are already struggling to turn a profit.
The company, formed in 2015 by telecommunications veteran Eamonn O’Hare and ex-Virgin Media colleague Robert Samuelson, agreed to buy Vodafone Group Plc’s Spanish business on Tuesday at what some including Bloomberg Intelligence see as a bargain price.