Zegona confirms talks to buy Vodafone Spain

EPA-EFE/NEIL HALL

Zegona Communications Plc confirmed to the London Stock Exchange that it is negotiating the purchase of telecommunications company Vodafone Spain, Spanish news agency Expansion reported on Friday.

The operating company is in discussions with Vodafone Group plc regarding a potential acquisition and with banks regarding their financing. However, the acquisition is still not agreed on and is subject to final terms with Vodafone, due diligence execution, and formalization of financing agreements.

Earlier, the media said "British foundation is preparing a purchase offer valued at €2.5 billion for 50% of the company."

Baha Breaking News (BBN) / RR