Last checked at 
The company - which turns around European telecoms firms - said its results for the year have been "significantly affected" by the sale of the Telecable business in July 2017. Telecable was Zegona's only operating business.
The company posted a profit for 2017 attributable to equity holders of
As part of the sale of Telecable, Zegona received 26.8 million shares in Euskaltel, which represents a 15% stake. The company also received
On receiving Zegona's equity interest, the carrying value of the investment in Euskaltel was
"We are disappointed with this reduction in the value of the Euskaltel investment. We believe Euskaltel is a fundamentally sound business that already traded at a significant discount compared to its peers when we announced the sale of Telecable," Zegona said.
"Beyond
The company's total payout for 2017 was
The disposal of Telecable means it is no longer appropriate to commit to pay a progressive dividend, the company said, however it remains "committed" to paying dividends.
Future dividends will be funded by the receipt of dividends from Euskaltel and other cash reserves, the company said.
Shares in the company were 0.2% higher at
