Zegona replaces Vodafone Spain with Telefonica

Telecommunications, media and technology investing company Zegona announced on Monday that its operating business, Telecable, had entered into a new mobile access agreement with Telefonica in Spain which will replace the current arrangement with Vodafone.

The London-listed firm said the new long-term agreement provides access to Telefonica's full range of mobile technologies, including 4G data services, on “highly attractive terms”, and will also enable Telecable to offer significantly improved mobile data services to its customers.

It said the agreement creates a long-term partnership between Telecable and Telefonica, and its new structure ensures that Telecable will be able to offer its customers further upgrades in service as their demand for mobile data continues to grow.

Telecable expected to migrate its customers to the new service during the first six months of 2017.

“This innovative agreement, with its redesigned economics, gives Telecable access to the highest quality mobile network in Spain and enables us to offer our customers a market leading mobile service, including high speed 4G data,” said Zegona CEO and chairman Eamonn O'Hare.

“We are excited by the opportunity this creates for Telecable to accelerate the growth of its business while also improving its financial returns.”