Source - SMW
Zegona Communications said it launched a share issue to raise at least £100m to spend on acquiring shares in Euskaltel.

The company said it had also entered into loan agreements with Virgin Group and Barclays Bank for a maximum of £30m for the same purpose.

Zegona had in December withdrawn a proposed takeover of Euskaltel and instead pledged to buy the shares on market 'at a price it considers attractive for its shareholders based on prevailing market conditions'.

At 1:40pm: (LON:ZEG) Zegona Communications Plc  share price was -6.5p at 113.5p