Zegona seeks financing to buy Vodafone's Spanish unit - Expansion
MADRID, Sept 22 (Reuters) -British telecom investment company Zegona ZEG.L is seeking financing for a bid to buy the Spanish unit of Vodafone VOD.L, newspaper Expansion reported, citing unidentified sources close to the matter.
The bid could value the whole company at more than 5 billion euros ($5 billion) and Zegona could buy only a 50% stake, the newspaper reported.
The company has started a strategic review on the future of its Spanish unit and its CEO Margherita Della Valle said in May the company's management is open to "structural change".
Vodafone is one of the three largest telecom operators in Spain together with Telefonica TEF.MC and the local unit of France's Orange ORAN.PA. The latter is in the process of merging with MasMovil, the fourth operator.
Zegona didn't immediately return a message seeking comment, while a Vodafone spokesperson in Madrid declined to comment.
($1 = 0.9387 euros)
Reporting by Inti Landauro; Editing by Kim Coghill
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