MADRID, 31 Oct. (EUROPA PRESS) -

The British fund Zegona has acquired 100% of Vodafone's business in Spain for 5,000 million euros, as confirmed by the entity in a statement.

"We are very excited about the opportunity to return to the Spanish telecommunications market. This attractive acquisition represents our third operation in Spain, after the success of Telecable and Euskaltel. With our clearly defined strategy and our proven track record, we are confident of creating significant value for shareholders," said Zegona President and CEO Eamonn O'Hare.

As reported by the British fund, the terms of the operation include that Vodafone will offer Zegona a licensing agreement that will allow it to use the Vodafone brand in Spain "for a period of up to 10 years."

"Vodafone and Zegona will enter into further transitional and long-term agreements for services including access to contracting, IoT (internet of things), mobile roaming and operator services," the firm adds.