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Zegona Communications ( (GB:ZEG) ) has provided an update.
Zegona shareholders have overwhelmingly approved a special resolution enabling a €1.4 billion special dividend and a major reduction in the company’s ordinary share capital. Around €975 million of the dividend will be used to fully settle Vodafone-related financing via EJLSHM Funding Limited, allowing the cancellation of 523 million EJLSHM-held shares and cutting Zegona’s ordinary share count by about 69%, a move that will significantly reshape its capital structure and concentrate ownership among remaining investors.
The most recent analyst rating on (GB:ZEG) stock is a Buy with a £18.00 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 London-listed investment company focused on the European telecommunications, media and technology sector. Founded in 2015 and led by former Virgin Media executives Eamonn O’Hare and Robert Samuelson, it aims to buy underperforming assets and enhance their performance to generate attractive shareholder returns, and in 2024 it completed the acquisition of Vodafone Spain.
Average Trading Volume: 469,535
Technical Sentiment Signal: Buy
Current Market Cap: £10.09B
Find detailed analytics on ZEG stock on TipRanks’ Stock Analysis page.