Publicly Owned Zegona Communications is headquartered in the United Kingdom. Founded in 2015, the company operates with an approximate employee count of 10 and reported $4.1B in revenue as of 2025. The company specializes in telecoms, functioning as a telecommunications investment company that manages Zegona Limited, Zegona Spanish Holdco Limited, Zegona Borrower Limited, and Zegona Holdco Limited.
Zegona Communications announced on September 24, 2026, a new capital allocation framework that will return EUR400 million to shareholders, raising total shareholder returns since its May 2024 acquisition of Vodafone Spain to EUR2 billion. The company, an investor in European telecommunications and media firms, stated its intent to return all free cash flow to shareholders over time due to increased cash generation. Concurrently, Zegona recommended an ordinary dividend of EUR200 million for the financial year ending March 31, 2027, which will be funded from free cash flow and requires shareholder approval. Earlier, on July 21, Milbank LLP advised Zegona Communications on a comprehensive EUR3.7 billion refinancing of Vodafone Spain. This followed news from July 3 that Cellnex Telecom SA and American Tower Corp. were set to finalize a deal to provide tower services to Zegona’s Spanish telecom operator, replacing current provider Vantage Towers AG when its contract concludes in 2028.
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