Telefonica (TEF) has resumed discussions with Zegona Communications over a potential acquisition of Vodafone Spain, with the Spanish telecom operator seeking to revive preliminary talks held previously, Vozpopuli reported Monday, citing unnamed sources familiar with the matter.

The discussions had stalled amid an unfavorable geopolitical and macroeconomic environment, while Telefonica also viewed Zegona's valuation expectations as too high, according to a Google translation of the report.

Telefonica did not immediately respond to MT Newswires' request for comment.

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