Report: Vodafone resumes talks to acquire ONO

|About: Vodafone Group Plc (VOD)|By:, SA News Editor

Sky News reports Vodafone (VOD +0.8%) has restarted talks to acquire Spanish cable giant ONO, and that a deal could be worth €7B ($9.6B).

However, the talks are said to be "at a tentative stage," with Vodafone pessimistic about its ability to get ONO shareholders to call off a planned IPO. Bloomberg reported last month an ONO bid would need to be in the €7B-€8B range to win board approval.

Vodafone appears intent on using some of its Verizon Wireless cash to grow its European wireline reach. AT&T isn't pleased.