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Bonkers Bargain: Zegona Communications (Updated)

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Zegona looks a cheap, dividend yielding play on the improving performance and growth of a Spanish telecommunications group. The news of a takeover approach for its investment has lifted the shares, but there remains a considerable discount at play.


Zegona Communications (LON:ZEG) was established with the objective of acquiring businesses in the European telecommunications, media and technology sector applying a ‘Buy-Fix-Sell’ strategy.


Its first acquisition in August 2105 was Telecable, a cable telecommunications operator in the Asturias region of Spain. In July 2017 Telecable was acquired by Euskaltel S.A. (LON:EKT),a larger Spanish-based communications group listed on the Madrid stock exchange. Zegona initially acquired a 15% stake in the Spanish listed group which it subsequently increased…

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