Zegona (Buy, £13.0, +41%) Orange (Buy, €14.9, +8%) Fibre JV: A big step forwards with proceeds announced
Zegona has announced that it will raise €1.4bn from the monetisation of its fibre JV with MasOrange. This is a major step forward is allowing the company to pay a significant dividend to its shareholders and we run through the details in this note.Zegona Communications is engaged in acquiring businesses in the European TMT sector with a 'Buy-Fix-Sell' strategy to deliver shareholder returns through fundamental business improvements. Co.'s first acquisition was the purchase of Telecable, the telecommunications operator in the Asturias region of Spain. Co.'s objectives include: executing a Buy-Fix-Sell strategy in the TMT sector; focusing on businesses that require active change and fundamental improvement to realize their full value; and targeting significant long term growth in shareholder value. Co. delivers value through a three step, Buy-Fix-Sell strategy.
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