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Report: Vodafone makes formal bid for Spain's ONO

  • Vodafone (VOD) has made a formal offer for Spanish cable operator Grupo Corporativo ONO, the Expansion newspaper reports.
  • However, Reuters sources provide conflicting information: one says that talks are continuing, while two others say that no offer would be made.
  • Vodafone is vying with Liberty Global (LBTYA) to acquire the firm, which has also been considering an IPO.
  • Any deal for ONO, which one analyst says could be worth an estimated €6.4B ($8.7B) including debt, would add to Vodafone's acquisition of other cable providers in Europe such as Kabel Deutschland in Germany.
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