Ecodiario – raised its stake to 6.5% after …: Alken is strong in Jazztel

Ecodiario – raised its stake to 6.5% after …: Alken is strong in Jazztel

elEconomista.es / Europa Press

24.09.2014 – 18:44

Note to users: 10.0 ( 5 votes)

• The fund last week demanded 20 euros per share, compared with 13 of the opa

Alken Asset Management has intensified its commitment Jazztel. In the process of acquisition by Orange, the second largest shareholder of the operator founded by Leopoldo Fernández Pujals increased its share from 5.1% to 6.5%, as recorded in the records of the National Securities Market Commission ( CNMV).

Alken, teleco second shareholder, has already made clear that he would not sell to Orange despite the agreement of the board of Jazztel and demanded 20 euros per share. The French operator launched its bid last week to 13 euros per share, and the titles of Jazztel closed at 12.81 euros today.

The Orange deal values ​​100% of the company at 3,330 million euros and has the commitment of both Fernández Pujals as the CEO of the company, José Miguel García, selling their respective stakes of 14.48% and 0.21%.

Fidelity reduces stake

On the other hand, has also been known today that Fidelity Management & amp; Research Company, an investment fund owned by Fidelity, has continued to reduce its indirect stake in Jazztel and stood at 4.14% from 6.054% to even declared on 16 September.

In particular, between the 16th, the date in which he stated that exceed 5% stake in the operator and on the 19th, the fund has divested 1.91% of Jazztel.

This share is disclosed as part of the regulations for information about shareholding movements in companies subject to a procurement process, such as the company headed by Leopoldo Fernández Pujals.

In particular, as part of this protocol, Fidelity reported that on 16 September, a day after the announcement of the transaction by Orange, exceeded the threshold of 5% and reached Jazztel 6.05% of the capital. On this day the titles of the operator rose more than 6% in the CNMV bag after lifting its suspension of trading. The supervisor had yesterday suspended trading in the securities when rallied by over 13%.

Subsequently, on September 17, Fidelity sold a 1.29% stake and its share stood at 4.76%, which a day later reduced to 4.68%, to place it on 19 at 4.14%. At present, the company controls 10.6 million titles Jazztel valued at the price of 13 euros per share offered by Orange, amounts to € 137.8 million.

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