The British Zegona is ahead of Euskaltel by purchasing Telecable

The Basque operator, after announcing its purchase last week of the Galician operator R Cable, had put Telecable in its sights.

Business movements in the northern Spanish cable do not stop happening. After the announcement last Thursday of the purchase of the Galician company R Cable by the Basque company Euskatel, today it was the British company Zegona Communications that put on the table the acquisition of the Asturian operator Telecable.

This purchase puts an end to Euskaltel's aspirations to take control of Telecable and consolidate itself as the dominant operator in the north of Spain after signing last Thursday the acquisition of the Galician R for 855 million.

Zegona has closed an agreement with the capital manager The Carlyle Group and the Spanish bank Liberbank for the purchase of the operator in northern Spain for 640 million euros.

Zegona's CEO and one-time Virgin strongman, Eamonn O'Hare, has recognized that the purchase of Telecable represents "an important opportunity to continue the impressive development of the company's business. Combining the local knowledge of the team in Spain with the international experience and track record of Zegona, we have the right leadership to take Telecable forward and achieve its potential. The purchase of this Spanish company fits with our acquisition strategy because it is a "strong business with considerable opportunity for growth and benefits.”

Por su parte, el consejero delegado de Telecable, Alejandro Martínez Peón, ha calificado esta operación como “histórica” ya que “después de un periodo de crecimiento continuo con el apoyo de The Carlyle Group y Liberbank, creo firmemente que este es el paso correcto para reforzar la posición competitiva de Telecable y que nos traerá un futuro mejor”.

Telecable cuenta en la actualidad con 164.000 clientes de cable y 132.000 de móvil.