[London, ENGLAND] Fiber optic operator and Internet
service provider Jazztel plc announced Monday its
listing on the Spanish “Nuevo Mercado” (New Market).
Jazztel completed its listing at the Madrid Stock Market
ready for business Monday morning, trading under the
symbol JAZ. It is also listed on both EASDAQ and
NASDAQ, where it trades under JAZZ.
Jazztel, which sold its shares in the Spanish portal
Ya.com to T-Online earlier this year, believes the
listing will help the company gain new investors.
Many Spanish retail and institutional investors only
buy shares that are listed in Spain.
“We expect liquidity of our shares to increase over
time as we broaden our investor base and analyst following,”
said Chief Executive Miguel Salms.
Jazztel is currently constructing a fiber optic
telecommunications network in Spain and Portugal, and
already has 4,200 kilometers of backbone fully operational.
During the first nine months of this year it had
EUR 88.5 million (US $75 million) in revenues.
Whereas most of the telecoms companies quoted on the
Spanish Stock Market operate across many countries,
Jazztel’s operations are focused on the Iberian
peninsula. The company now claims to be “the primary
Iberia-only alternative for investors” who wish
to invest in telcos on the Spanish market.
Following its divestment of Yacom Internet Factory
in September, Jazztel acquired Adatel, a systems
integrator for SMEs in Spain specializing in vertical
wiring, PBX installation and data networks installation
and maintenance. The two deals have given the company
an entirely different profile — one that may well be
more attractive to Spanish investors.
Jazztel’s Chairman Martin Varsavsky said he is convinced
that the company will become a benchmark for investors
in the new market.
Jazztel — which incidentally has one of the most
colorful and attractively designed Web sites of all
European telcos — regards the building of its fiber
network and the provision of services to SMEs as the
two components of its core business.
