Vodafone ‘clinches’ deal to buy Spain’s Ono

Bit more cash was all it took

vodafone fourplay target - ono

UK operator, Vodafone, is expected to announce later today * [17th March 2014] that it has clinched the deal to buy Spanish cable operator Ono, having upped its offer to around €7.2 billion (£6 billion). Vodafone, cash rich after its sale of its 45 per cent stake in Verizon for £84 billion, had its earlier offer to buy Ono for $7 billion rejected, but it’s now thought shareholders in the Spanish firm have had a change of heart with more money on the table.
If the purchase is confirmed, it will mark a further step in Vodafone’s ambitions to re-model itself as a ‘fourplay’ provider, offering customers mobile, landline, TV and broadband in a single package.

The takeover will also fit with Vodafone’s strategy of spending up to £25 billion to invest in its core European networks.

Neither side was willing to comment on the latest deal rumour.

*UPDATE: The deal was later confirmed here

About Dave Evans

Dave Evans is a long established commentator on both the IT and cellular industries. His current focus is on share price trends within the sector. You can email him here
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