The telecommunications company Vodafone will sell its entire business in Spain to the British fund Zegona for 5,000 million euros, both entities announced this Tuesday.
With this operation, Vodafone will transfer to Zegona the license to use the Vodafone brand in Spain for a period of up to ten years.
The two companies will also sign “other transitional and long-term agreements” that include various services, Zegona said in a statement.
Completion of the transaction still depends on approvals from Zegona fund shareholders and regulatory entities, and should be completed in the first half of 2024.
In a statement, the executive president of Vodafone, Margherita Della Valle, stated that “the sale of Vodafone Spain is a fundamental step to size” the group’s portfolio with a view to growth, allowing it to focus resources “on markets with sustainable structures and sufficient scale.” “. local”.
Source: TSF
