European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

Zegona Communications: From Turnaround to Capital Return Vehicle with M&A Optionality

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zegona-communications-plc" target="_blank" data-smartkarma-citation="entities:25686:1" rel="noopener">Zegona Communications (ZEG LN)</a> owns 100% of Vodafone Spain and is a pure-play turnaround and M&amp;A optionality vehicle in a consolidating European telecom market.</li>
<li>Telefónica and MasOrange are reportedly considering a bid, with potential upside of 25–83% depending on deal terms and valuation multiples.</li>
<li>Even without a sale, fibre JV monetization and cost-cutting support a standalone re-rating over the next 12–18 months.</li>
</ul>



Zegona Communications (ZEG LN) owns 100% of Vodafone Spain and is a pure-play turnaround and M&amp;A optionality vehicle in a consolidating European telecom market.
Telefónica and MasOrange are reportedly considering a bid, with potential upside of 25–83% depending on deal terms and valuation multiples.
Even without a sale, fibre JV monetization and cost-cutting support a standalone re-rating over the next 12–18 months.


Zegona Communications: M&A Optionality and Strategic Re-Rating