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Zegona acquires Spain's Telecable for EUR 640 mln
2015-07-27 10:23:00| Telecompaper Headlines
(Telecompaper) Zegona, an investment vehicle set up by former Virgin Media finance director Eamonn O'Hare, has reached an agreement to acquire Spanish regional broadband operator Telecable from Carlyle Group and Liberbank for an enterprise value of EUR 640 million. In a statement Zegona said it expected to close the deal by mid-August and that it would fund the acquisition with a combination of GBP 251 million of new equity, backed by institutional investors, funds from its recent float and a new debt facility arranged by Goldman Sachs. The deal for Telecable, present in the northern Spanish region of Asturias, comes just a few days after Euskaltel, operating in the Basque Country, agreed to purchase rival cable provider R, operating in Galicia, for EUR 1.16 billion.
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Category:Telecommunications