Zegona Communications has announced that Vodafone Spain, which it acquired in May, has signed a deal to set out plans for a national network sharing agreement with MasOrange.

The agreement will involve the two telecommunications companies creating a joint fibre network company called FibreCo, which will provide fibre access services to around 11.5 million premises in Spain.

Zegona Communications said that the partnership will guarantee customers access to a modern fibre optic network and enable the adoption of new technologies.

Additionally, the company claimed that it will attract investment and innovation and will be sustainable thanks to high energy savings and ESG standards.

The ownership of the company will be split between the firms based on their customer numbers.

Zegona Communications said they plan to bring in a third-party financial investor into the share capital of the new company who will hold around 40 per cent of the shares with 50 per cent owned by MasOrange and the remaining 10 per cent owned by Vodafone Spain.

The deal is subject to the required regulatory approval.

"Creating this new FibreCo in partnership with MasOrange is a key part of our plan to transform Vodafone Spain,” said Eamonn O'Hare, chairman and chief executive of Zegona Communications. “It will deliver a highly efficient fibre infrastructure for our customers with leading fixed line technology which will be at the forefront of the industry.”

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