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The latest announcement is out from Zegona Communications ( (GB:ZEG) ).
Zegona Communications plc has announced a significant capital allocation proposal following two recent FibreCo transactions, resulting in €1.8 billion in proceeds. The company plans to return €1.6 billion to shareholders through a €1.4 billion special dividend and a €200 million share buyback program, while the remaining €200 million will be used for debt reduction. This move will reduce Zegona’s ordinary shares by 69%, simplify its capital structure, and enhance shareholder value. The proposal is contingent on the completion of the FibreCo transactions and shareholder approval, with the aim of settling Vodafone financing promptly.
The most recent analyst rating on (GB:ZEG) stock is a Buy with a £1500.00 price target. To see the full list of analyst forecasts on Zegona Communications stock, see the GB:ZEG Stock Forecast page.
More about Zegona Communications
Zegona Communications plc is a company publicly listed on the Main Market of the London Stock Exchange, established in 2015. It focuses on investing in businesses within the European Telecommunications, Media, and Technology sector to enhance their performance and deliver attractive shareholder returns. The company is led by former Virgin Media executives and completed the acquisition of Vodafone Spain in 2024.
Average Trading Volume: 368,315
Technical Sentiment Signal: Buy
Current Market Cap: £10.21B
See more data about ZEG stock on TipRanks’ Stock Analysis page.