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
This article was published in Financial, Vodafone and tagged , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>