Ex-Virgin Media CFO's Zegona hires Tavistock as it eyes multi-billion-pound acquisition spree

Zegona, a new firm headed by former Virgin Media CFO Eamonn O'Hare to acquire and operate telecoms assets worth up to £3bn, has appointed Tavistock as its sole PR agency ahead of a planned IPO.

Tavistock will handle corporate and financial comms for Zegona, which this morning announced plans to float on AIM by the end of March.

The company is initially looking to raise up to £30m, and will seek more funds when assets are identified.

Zegona hopes to acquire under-performing assets in the telecoms, media and technology (TMT) sector, targeting opportunities throughout Europe.

The new vehicle is headed by chairman and CEO O’Hare and chief operating officer Robert Samuelson. Both helped spearhead the growth of Virgin Media before its $24bn (£15.8bn) sale to Liberty Global in 2013.

The PR account will be handled by Tavistock’s Matt Ridsdale, Lulu Bridges and Mike Bartlett, who advised the Virgin Media team through its sale. Tavistock has an ongoing brief for the account and was appointed without a competitive pitch.

In a statement, the new company said: "Zegona has been established by ex-Virgin Media executives to execute a ‘buy-fix-sell’ strategy in the European TMT sector, focusing on network-based communications and entertainment opportunities.

"Investments will target strategically sound businesses that require active change to realise full value, creating significant long-term returns through fundamental business improvements. The objective is to create a concentrated portfolio of sizeable assets with enterprise values in the range of £1bn to £3bn."

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