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.