News

Zener and Verne Technology Group have reached an agreement whereby Teleco (Telecomunicaciones de Levante), a company belonging to Verne that provides infrastructure, network, installation and maintenance, and end-customer services for Telefónica España in the Levante and Balearic Islands region, becomes part of Zener.

 

The agreement, pending validation by the CNMC (National Competition Market Commission), refers to 100% of TELECO's capital, and includes the assets necessary to carry out the company's activity, whose workforce will not see its employer modified and will therefore maintain its current working conditions. Teleco's staff will bring their expertise to Zener, which will support the team to facilitate the integration of the business.

 

This operation creates added value and improves the competitiveness of both companies, Zener and Verne Group, as well as responding to the needs of the market:

 

For Zener, the operation strengthens its competitive position in one of its main business lines (Telecommunications) in the Spanish market where the activity is based on recurrent services, while leaving unchanged its international position in Germany, the Netherlands, Portugal and Chile. At the same time, it means strengthening its cooperation and activity with Telefónica España, the benchmark operator in the Spanish market, for which it had already been providing services since 2015.

 

For Ismael Asenjo, CEO of Zener: "The acquisition of Teleco is a key operation to further increase our presence and competitiveness in the national market - which is a world reference in fibre optics and telecommunications quality - and to further strengthen the company's growth and our cooperation and activity with Telefónica in Spain. We welcome Teleco's employees and assure them that, from now on, the integration of human capital will be a priority for us.

 

For Verne Group, the operation is part of its new Strategic Plan 2022-2025, with which it plans, on the one hand, from its Telco division, to continue its firm commitment to the telecommunications market in our country, where it has more than 40 years' experience in the construction of infrastructures and end customer service, strengthening its geographical diversification through other operators, as well as reinforcing its presence in North Africa, Portugal and especially Germany, and entering new European markets. And on the other hand, to consolidate its Tech division and diversify through new business lines to consolidate its position as a benchmark company in technological and digitalisation solutions. Following the agreement, Verne will focus its relationship with Telefónica on the development of projects both in Germany and in other European markets.

 

In the words of Gianni Cecchin, CEO of Verne Technology Group, "This is an operation that makes strategic sense within our roadmap to strengthen our competitiveness in the national and international market and to secure the company's growth for the coming years. I would like to thank all Teleco employees for their commitment over the years and their contribution to the success of the Verne Group. Zener is the right player to continue to develop Telefónica's operations in Spain.