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General

Zegona approves capital hike to increase Euskaltel stake

Friday 8 February 2019 | 09:53 CET | News
UK-based telecom investment vehicle Zegona Communications announced that its shareholders have approved a proposal to place new ordinary shares in the capital of the company with a view to raising equity proceeds of at least GBP 100 million. The company said it intends to use the new proceeds to increase its stake in Spanish operator Euskaltel by another 12.5 percent through market purchases. It acquired its current 15 percent stake in Euskaltel after selling regional broadband operator Telecable Asturias to the northern Spain-focused company for EUR 686 million in 2017. 

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Categories: General
Companies: Euskaltel / Telecable / Zegona
Countries: Spain
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