Vodafone ends selling its Spanish subsidiary to Zegona

FinanceJun 4, 2024 IDOPRESS

Jose Miguel Garcia has been appointed as the new CEO of Vodafone, Spain

Vodafone has completed the sale of its Spanish subsidiary to Zegona for5 billion euros.. Both parties have signed an agreement to provide certain services, and the company guarantees to continue conducting business locally through its innovation center in Malaga. The buyer will pay 4.1 billion euros in cash, and the rest will be paid in preferred shares Jos é Miguel Garc í a appointed as the new CEO of Vodafone, Spain Both sides welcome this action and state that it is a leading operator with a solid position in the consumer and B2B markets, as well as a fixed network with a gigabit capacity that covers 95% of the local population< "We hope to change our business and restore growth," said Eamonn O, President of Zegona; Rabbit The new management team will be led by Angel Alvarez as the head of the Consumer Business Department; Jose Ortis Martinez serves as the Director of Law and Regulation; Berta Á lvarez Stuber serves as the Director of Human Resources; Eloy Rodrigo Gil serves as the Chief Financial Officer; Jesus Suso serves as the head of the business department, and Julia Velasco serves as the network director. The last three members have already fulfilled the same functions This marks the end of a new phase of integration in the Spanish telecommunications market, which includes changes in Telef ó nica, the return of the state as a shareholder of the operator after the arrival of the Saudi fund (STC Group), and the merger of Orange and MasMobile, now known as MasOrange

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