Zegona Communications PLC - firm focussed on acquiring businesses in European telecommunications, media & technology sector - Agrees with Barclays Bank PLC to hedge the full amount of proceeds it expects to receive on the completion of the tender offer to acquire 100% of Euskaltel SA for EUR11.17 per share in cash. The acquisition was launched by Zegona's wholly-owned subsidiary MasMovil Ibercom SAU on March 28. Under the terms of the contract, Zegona will receive GBP370 million in respect of the expected proceeds of EUR428 million.
Current stock price: 134.10 pence, down 0.7% on Friday
Year-to-date change: up 27%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Barclays (BARC)
Zegona Com (ZEG)