Advertisement
UK markets closed

  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     

  • FTSE 250

    19,391.30
    -59.37 (-0.31%)
     

  • AIM

    745.67
    +0.38 (+0.05%)
     

  • GBP/EUR

    1.1609
    -0.0074 (-0.63%)
     

  • GBP/USD

    1.2370
    -0.0069 (-0.55%)
     

  • Bitcoin GBP

    51,901.48
    +721.25 (+1.41%)
     

  • CMC Crypto 200

    1,380.03
    +67.41 (+5.13%)
     

  • S&P 500

    4,963.88
    -47.24 (-0.94%)
     

  • DOW

    37,923.96
    +148.58 (+0.39%)
     

  • CRUDE OIL

    83.46
    +0.73 (+0.88%)
     

  • GOLD FUTURES

    2,413.10
    +15.10 (+0.63%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • HANG SENG

    16,224.14
    -161.73 (-0.99%)
     

  • DAX

    17,737.36
    -100.04 (-0.56%)
     

  • CAC 40

    8,022.41
    -0.85 (-0.01%)
     
Property:

11 beautiful homes with glorious garden rooms

Investing in a home with a garden room will enable you to enjoy your outside space whatever the weather

Zegona to buy back 10 million sterling of shares to boost underlying asset value

Reuters

LONDON (Reuters) - Zegona Communications <ZEG.L>, a telecoms investment firm that owns a stake in Spain's Euskaltel <EKTL.MC>, said it would buy back 10 million pounds worth of its shares, which trade at a discount to the value of its investments and cash.

Zegona said in December its stake in Euskaltel and net cash position had a value of 1.41 pounds per share, whereas the stock currently trades around 1.09 pounds. It has around a 21% direct stake in Euskaltel, according to Refinitiv data.

"The buyback is expected to increase the underlying asset value per share for shareholders who retain their holdings in Zegona," the company said on Tuesday.

(Reporting by Paul Sandle; editing by Kate Holton)