Zegona Communications completed the acquisition of the Spanish business of Vodafone Group for €5bn.

Zegona Communications, a network-based communications and entertainment business, completed the acquisition of the Spanish business of Vodafone Group, a technology communications company, for €5bn. "We have now completed the acquisition of Vodafone Spain and look forward to transforming the business and returning it to growth. I am pleased to welcome José Miguel García to lead Vodafone Spain as CEO, reuniting a team that has a proven track record of highly successful operational transformations in Spanish telecoms. The new 10-year network access agreement signed with Finetwork earlier this week demonstrates our ability to move swiftly on our well-defined strategy. With our proven track record, we are confident we will improve the performance of Vodafone Spain whilst delivering significant value for shareholders," Eamonn O'Hare, Zegona Chairman and CEO.