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Zegona Communications ( (GB:ZEG) ) has issued an update.
Zegona Communications has announced the completion of the PremiumFiber joint venture involving Vodafone Spain, MasOrange, and GIC, creating a comprehensive fibre-to-the-home network across Spain. The transaction has generated €1.4 billion in cash proceeds for Vodafone Spain, which will be used to pay a special dividend to Zegona shareholders, settle Vodafone financing, and initiate a share buyback program. This strategic move is expected to significantly reduce Zegona’s ordinary shares by 69% and enhance shareholder value.
The most recent analyst rating on (GB:ZEG) stock is a Buy with a £17.50 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 is a publicly listed company on the Main Market of the London Stock Exchange, established in 2015 with a focus on investing in the European Telecommunications, Media, and Technology sector. The company aims to enhance the performance of its investments to deliver attractive shareholder returns and is led by former Virgin Media executives. In 2024, Zegona acquired Vodafone Spain, a national provider of fixed, mobile, and TV services in Spain.
Average Trading Volume: 390,926
Technical Sentiment Signal: Buy
Current Market Cap: £11.16B
For an in-depth examination of ZEG stock, go to TipRanks’ Overview page.