UK’s Zegona says in talks to buy Vodafone’s Spain business – ET Telecom

UK’s Zegona Communications said on Friday it was in talks with Vodafone about a potential acquisition of the British telecom giant’s Spanish business.

Earlier on Friday, newspaper Expansion reported that the telecom investment company was seeking financing for a bid to buy the Spanish unit of Vodafone.

The bid could value the unit at more than 5 billion euros ($5 billion) and Zegona could buy only a 50% stake, the newspaper reported.

Vodafone is one of the three largest telecom operators in Spain together with Telefonica and the local unit of France’s Orange.