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Biggest Euskaltel investor sees MasMovil bid closing by Q4

LONDON, March 29 (Reuters) - The head of the biggest shareholder in Spanish telecoms group Euskaltel said he expected investors and regulators to back its planned purchase by MasMovil and clear the way for the transaction to close by the fourth quarter of the year.

Eamonn O’Hare, head of UK-listed Zegona, told Reuters he had a high confidence that the deal would close and he would then consider what to do with the proceeds for his own shareholders.

MasMovil announced the friendly takeover bid for Euskaltel on Sunday, a near 2 billion euro purchase that is set to shake up Spain’s competitive telecoms market. (Reporting by Kate Holton; editing by James Davey)

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