Business
Hedging Transaction
Hedging Transaction.
About this update from Zegona Communications Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9077U\n Zegona Communications PLC\n 09 April 2021\n \n \n \n \n NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OR TO ANY US PERSON, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA\n OR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN SPAIN)OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION, PUBLICATION OR RELEASE WOULD BE UNLAWFUL.\n \n \n \n \n \n \n \n \n ZEGONA COMMUNICATIONS PLC (\"Zegona\")\n \n \n \n \n \n LEI: 213800ASI1VZL2ED4S65\n \n \n 9 APRIL 2021\n \n \n \n \n HEDGING TRANSACTION\n \n Zegona Limited (\"Zegona\") yesterday entered into a Deal Contingent Forward Purchase Agreement with Barclays Bank PLC to hedge the full amount of proceeds it expects to receive on the successful completion of the tender offer (the \"Offer\") to acquire 100% of Euskaltel, S.A. for €11.17 per share in cash launched by a wholly-owned subsidiary of MasMovil Ibercom, S.A.U. on 28 March 2021 (as it may be amended or supplemented from time to time). Under the terms of the contract, Zegona will receive £370 million in respect of the expected proceeds of €428 million if the Offer is successfully completed.\n \n \n \n \n Enquiries\n \n \n \n \n \n Tavistock (Public Relations adviser - UK)\n \n \n Tel: +44 (0)20 7920 3150\n \n \n Lulu Bridges - \n \n [email protected]\n \n \n \n \n \n \n About Zegona\n \n Zegona was established in 2015 with the objective of investing in businesses in the European Telecommunications, Media and Technology sector and improving their performance to deliver attractive shareholder returns. Zegona is led by former Virgin Media executives Eamonn O'Hare and Robert Samuelson.\n \n About Euskaltel\n \n Euskaltel S.A. (\"Euskaltel\") is the leading converged telecommunications provider in the North of Spain and has recently expanded to offer services nationally. It provides high speed broadband, data rich mobile, advanced TV and fixed communications services to residential and business customers under the Euskaltel, R Cable, Telecable and Virgin telco brands. Euskaltel is a public company traded on the stock markets of Bilbao, Madrid, Barcelona and Valencia.\n \n IMPORTANT NOTICES\n \n Z...