Reuters: Vodafone ups offer for ONO, reaches preliminary deal


Sources tell Reuters (translation) Vodafone (VOD -2.8%) has raised its bid for Spanish cable giant ONO, and has reached a preliminary deal with ONO shareholders collectively possessing a controlling stake.

No word on the specific offer price. Vodafone was previously reported to have made a rejected €7B ($9.6B) bid for ONO.

One source states Vodafone plans to formally present its offer before ONO's board meets on March 13 to approve recently-announced plans to pursue an IPO.

Vodafone is selling off on the report. A successful Vodafone bid for ONO, coming on the heels of its $14.2B Kabel Deutschland acquisition, could lower the odds AT&T (T +0.3%) will make an offer for the company once its 6-month waiting period ends. AT&T CEO Randall Stephenson has reportedly told investors further cable acquisitions by Vodafone would complicate a deal.

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Comments (1)
  • Veritas1010
    , contributor
    Comments (3351) | Send Message
     
    Good for VOD (maybe), bad fot AT&T, (maybe).
    7 Mar 2014, 01:23 PM Reply Like
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