11th Jul 2019 14:17
(Alliance News) - Zegona Communications PLC said on Thursday it is making "significant progress" in its plan to return telecommunications company Euskaltel SA to growth.
The company focused on acquiring European telecommunications businesses also said that Robert Samuelson was reappointed as the second proprietary director from Zegona on Euskaltel's board.
Samuelson, who is Zegona's chief operating officer, was reappointed at an extraordinary general meeting which also affirmed that Eamonn O'Hare, the company's chief executive officer, as an Euskaltel board member.
Jose Miguel Garcia was also ratified as the Euskaltel CEO during its EGM.
Zegona, which made a pretax profit of GBP9.9 million in 2018, said in April that it owns more than 21% of Euskaltel.
Shares in Zegona were up 1.0% at 105.50 pence in London on Thursday afternoon.
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