Jazztel shares continue to rise sharply after Orange's takeover offer

Jazztel's shares continue their strong revaluation after the launch of a Public Offer for the Acquisition of shares (OPA) by Orange. In the first bars of negotiation of the Stock Exchange, the titles rebounded 6%, up to 12.76 euros.

The day before, the regulator suspended the price of the value when it shot up 12%.

The shares still have an upward path to reach the 13 euros offered by the French operator.

Orange's offer implies a premium of 7.97% compared to Jazztel's price at the time the National Securities Market Commission suspended its trading this Monday and 21.49% compared to the close of last Friday.

The chairman of Jazztel's board of directors, Leopoldo Fernández Pujals, holder of 14.48% of the share capital, has already reached an agreement with the French company, which has also been joined by the CEO, José Miguel García Fernández, who has 0.21%, and the secretary general counselor, José Ortiz Martínez, with 0.041%. The operation is valued at 3,334 million.