TeliaSonera today said it is in talks with Zegona Communications to sell its Spain telecom business called Yoigo.
Zegona Communications aims to acquire businesses in the European Telecommunications, Media and Technology (TMT) sector with a Buy-Fix-Sell strategy. Zegona is led by former Virgin Media executives Eamonn O’Hare and Robert Samuelson.
Zegona’s first acquisition was the €640 million purchase of Telecable, a quad play cable telecom operator in the Asturias region of Spain, in August 2015. Telecable delivered revenues of €134.4 million, EBITDA of €65.0 million and Cash Flow of €36.1 million in 2015.
TeliaSonera aims to exit from the Spanish telecom market due to competition.