Zegona Communcations


Zegona ‘remains committed’ to Euskaltel as transformation gets underway

UK-based telecom investor Zegona Communications has said it remains committed to its investment in Spanish telecom operator Euskaltel and it retains the support of its shareholders in viewing the stake as strategic and likely to realise value. Reporting its H1 financials, Zegona, which has been trading at a discount to the value of its stake […]

Euskaltel brings Virgin brand to Spain for national quad-play service

Zegona, the largest shareholder in Spanish regional cable operator Euskaltel, has succeeded in its aim of bringing the Virgin brand to Spain to serve as a vehicle for the group’s national expansion. Zegona was established in 2015 by former Virgin Media executives Eamonn O’Hare and Robert Samuelson. Zegona’s long-standing relationship with the Virgin Group facilitated […]

Euskaltel launches new mobile TV app, strikes wholesale deal with Telefónica

Spanish regional cable operator Euskaltel Group has launched a new mobile app that allows customers to view TV content from iOS and Android mobile devices. The new app is the first to allow all customers of the group’s three operating companies, the Basque Country-based Euskaltel, R in Galicia and Telecable in Asturias, to access on-demand […]

Zegona clarifies on Euskaltel

Cable and telecom investor Zegona Communications has clarified that it has not acquired any additional shares in regional Spanish cable operator Euskaltel above its existing 15% stake and that it would only make market purchases of Euskaltel shares at the right price. The clarification followed mistaken reports by some local  media that interpreted the concluding […]

Zegona raises capital for Euskaltel share purchases

Cable and telecom investor Zegona Communications has successfully completed its share placing, raising gross proceeds of approximately £100.5 million (€112.6 million). The share placement represents about 75.8% of UK-based Zegona’s issued ordinary share capital prior to the placing. The company plans to use the capital raised to make new purchases of shares in Spanish regional […]

Zegona to raise capital for Euskaltel share purchases

Cable and telecom investor Zegona Communications has unveiled plans to raise at least £100 million through a share placement as it moves to realise its aim to purchase shares in regional Spanish cable operator Euskaltel on the open market. Zegona has also entered into agreement with Virgin Group and Barclays Banks to draw up to […]

Zegona pulls Euskaltel shares offer

Cable and telecom investor Zegona Communications has informed Spanish regulator the CNMC that it is withdrawing its offer to acquire an additional 14.9% stake in regional cable operator Euskaltel, which, on top of its existing 15% stake, would have see it become the Basque Country-based player’s largest shareholder. Zegona said that deteriorating conditions in the […]

Zegona moves to double stake in Euskaltel

Cable and telecom investment group Zegona Communications has moved to double its stake in Spanish regional cable operator Euskaltel by making a tender offer for up to 14.9% of the company. Zegona is offering €7.75 a share or a premium of 18%, in a move that could see it double its existing 15% stake in […]

Euskaltel grows subscriber base and revenues

Spanish regional cable operator Euskaltel increased its subscriber base and grew revenue and profit in Q1, with CEO Francisco Arteche saying that the company’s bundling strategy was paying dividends. Euskaltel’s revenue rose 26.6% to €176.6 million for the quarter, while EBITDA grew by 23.8% to €84.2 million. Operating cash flow was up 12.3% to €50.3 […]

Euskaltel is underperforming, says shareholder Zegona

Spanish regional cable operator Euskaltel has failed to take sufficient action to improve its performance since acquiring Asturias operator Telecable from UK-based owner Zegona Communications, according to the latter’s assessment of the company. Publishing its annual report, Zegona said that it was “disappointed” by the decline in Euskaltel’s share price since the closing of the […]