18th Dec 2019 15:21
(Alliance News) - Zegona Communications PLC on Wednesday said Euskaltel SA has secured two agreements in Europe as part of its expansion plans.
Zegona is the largest shareholder of Euskaltel, a Spanish telecommunications provider, owning over 20%.
Euskaltel has signs a new agreement, giving it long-term access to Orange SA's fibre network and access to data-rich mobile services across Spain, Zegona said.
In addition, Euskaltel has announced the renewal of its mobile access agreement with Telefonica SA on improved financial terms.
"These agreements represent a very important next step in Euskaltel's new strategic direction," said Zegona Chair & Chief Executive Eamonn O'Hare.
"The terms negotiated with Orange and Telefonica provide strong foundations for Euskaltel's national expansion plan, not only delivering access to millions of new potential customers, but also creating significant cost savings for the business," added O'Hare.
Zegona shares were trading 1.8% higher in London on Wednesday at 109.95 pence each.
By Evelina Grecenko; [email protected]
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