Vodafone exits Spain business in €5 bn deal with Zegona

Vodafone Group has exited from Spain by completing the sale of Vodafone Spain to Zegona Communications for €4.1 billion in cash and €0.9 billion in shares.
The enterprise value of €5 billion represents a multiple of 5.6x Adjusted EBITDAaL3 and 13.0x OpFCF4  for the 12-month period ended 30 September 2023.

Vodafone will continue to have a presence in Spain through its Innovation Hub in Malaga.