Zegona Communications PLC - London-based investor in European telecommunications and media - Provides details of its plan to pay a €1.4 billion special dividend to return most of the €1.8 billion in proceeds from the completion of Vodafone Spain’s fibre joint venture with MasOrange, partly owned by France’s Orange SA, and with Singapore state investor GIC. The special dividend equates to €1.8632 per share. It will be paid on January 7 with an ex-dividend date of December 18. The dividend payment will settle €975 million in Vodafone financing in full, with the remainder going to Zegona shareholders. This will allow Zegona to cancel 523 million Zegona shares, reducing its share total by 69% to 236 million from 759 million. Zegona also plans a €200 million share buyback, starting in January.
Current stock price in London: 1,376.64 pence for £10.48 billion market capitalisation
12-month change: up from 324.00p
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