Zegona Communications (LSE:ZEG) shares rose more than 4% on Monday following a report that Telefonica (TG:TNE5) has approached the UK-listed telecommunications group about a potential acquisition of its Vodafone Spain business.
Spanish publication Vozpopuli reported that Telefonica had contacted Zegona in recent weeks regarding a possible purchase of the business, citing unnamed sources.
Report Points to Renewed Telefonica Approach
According to Vozpopuli, the discussions represent a renewed approach by Telefonica for Vodafone Spain.
The report did not provide details of a potential valuation or transaction structure, and no agreement was confirmed in the supplied information.
Zegona, a UK-based telecommunications investment company, owns and operates Vodafone Spain, while Telefonica is one of Spain’s major telecommunications operators.
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