18 December 2019
EUSKALTEL secures critical wholesale agreements to accelerate expansion
Euskaltel has recently announced a new agreement giving it long-term access to Orange's fibre network covering 14 million households1 and access to data-rich mobile services across Spain. In addition, Euskaltel has also announced the renewal of its mobile access agreement with Telefonica on improved financial terms2. These agreements secure significant savings and improved long term visibility for the company.
Eamonn O'Hare, Zegona's Chairman and CEO commented: "These agreements represent a very important next step in Euskaltel's new strategic direction. 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."
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NOTES TO EDITORS
Zegona was established in 2015 with the objective of investing in businesses in the European Telecommunications, Media and Technology sector and improving their performance to deliver attractive shareholder returns. Zegona is listed on the standard listing segment of the Official List of the Financial Conduct Authority and the Main Market for listed securities of the London Stock Exchange, and is led by former Virgin Media executives Eamonn O'Hare and Robert Samuelson.
Zegona is the largest shareholder of Euskaltel S.A. owning over 20%.
Euskaltel is the leading converged telecommunications provider in the North of Spain, with a network covering nearly 2.3 million households. It provides high speed broadband, data rich mobile, advanced TV and fixed communications services to residential and business customers under the Euskaltel, R Cable and Telecable brands. Euskaltel is a public company actively traded on the stock markets of Bilbao, Madrid, Barcelona and Valencia.
1 The CNMC reports the Orange FTTH network covered 13.8m households in Spain as at end 2018
2 See announcements regarding Euskaltel's Orange and Telefonica wholesale agreements in Media News Room section of the Zegona website