EU Clears FiberPass Transaction

Summary by AI BETAClose X

Zegona Communications plc announced that the EU Commission has cleared AXA's acquisition of a 40% stake in FiberPass, allowing the transaction to proceed to completion by the end of March 2026. Vodafone Spain will receive €0.4bn in upfront proceeds, with €0.2bn allocated to a share buyback program and the remaining €0.2bn for debt reduction, positioning the business to achieve a net debt of €3.2bn by the financial year-end and reinforcing Zegona's leverage target. Following the AXA investment, FiberPass's ownership will be 55% Telefónica, 40% AXA, and 5% Vodafone Spain.

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