Zegona sale of Telecable

RNS Number : 2127M

Marwyn Value Investors Limited

27 July 2017

 

27 July 2017

Marwyn Value Investors Limited

Zegona Communications plc sale of Telecable

The Directors of Marwyn Value Investors Limited (the "Company") welcome the announcement made yesterday by its investee company, Zegona Communications plc ("Zegona") confirming the completion of the sale of Zegona's Spanish cable business, Telecable to Euskaltel, S.A.

Zegona has also confirmed its intention to return £140 million to its shareholders by way of a tender offer, details of which are yet to be released. The Company will issue a further announcement in due course following confirmation by Zegona of the details of the tender offer.

At the date of this announcement, funds managed by Marwyn Asset Management Limited own 25.8 per cent. of the issued share capital of Zegona, of which the Company indirectly holds approximately 21.3 per cent. of the issued share capital of Zegona.

Company enquiries:

Louisa Bonney / Scott Danks

Axio Capital Solutions Limited

Telephone: [phone]

PR enquiries:

Alex Child-Villiers / Ed Orlebar

Temple Bar Advisory Limited

Telephone: [phone]

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