Vodafone Group has agreed to sell its Spanish operation to Zegona Communications at an enterprise value of €5 billion. Allen & Overy, Slaughter and May, Travers Smith, Milbank, Garrigues, and Gómez-Acebo & Pombo are the law firms behind the deal.

Advising Zegona on its acquisition of Vodafone Spain are Travers Smith, Gómez-Acebo & Pombo, and Milbank, while Slaughter and May and Garrigues act for Vodafone Group and Allen & Overy supports the bookrunners and underwriters of the debt financing, according to statements from the firms and companies involved.