ZOO Digital has announced the first phase in its global growth strategy, with the launch of ZOO Turkey. This strategic investment will provide major content creators and global streaming services with an enhanced offering in the MENA region. The investment fits into ZOO’s stated strategy to expand its in-territory expertise across Europe, the Middle East and Southeast Asia in order to meet growing demand across these geographies. The financial impact has not been disclosed, but we believe it is likely to be currently immaterial in the scope of the group. We are therefore making no changes to our estimates but will look to quantify the potential uplift to earnings as the investment gains traction.