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Goldman underwrites Zegona offer for Spain's Yoigo
June 6, 2016 / 1:37 PM / in 2 years

Goldman underwrites Zegona offer for Spain's Yoigo

LONDON, June 6 (Reuters) - Goldman Sachs has agreed to fully underwrite an offer from Zegona should the British investment firm reach a deal to buy Spanish budget mobile operator Yoigo, a person familiar with the deal said.

Zegona, set up by former Virgin Media executives to buy and run businesses in the European technology, media and telecoms sector, has been in talks with Yoigo-owner Teliasonera for more than two months about a deal.

It is in a battle with Spanish operator MasMovil to buy Yoigo, to add to its portfolio which already includes the Spanish cable operator Telecable which it bought in 2015.

Spain’s telecoms sector has been through a round of consolidation, with Orange swooping on broadband operator Jazztel, Vodafone buying Ono and Euskaltel agreeing an offer for R Cable in recent years.

Zegona has agreed a national roaming deal with Telefonica which would enable Yoigo customers to access data, the source told Reuters.

Zegona declined to comment, while Goldman Sachs and Teliasonera were not all immediately available to comment. (Reporting by Kate Holton; Editing by Alexander Smith)

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