WSJ: ONO owners continue prepping for IPO as Vodafone seeks deal

Grupo Corporativo ONO's owners are moving forward with plans for an IPO, the WSJ reports, and are due to meet with analysts and candidates for independent directors today and tomorrow.

The WSJ's article contrasts with a Reuters report on Friday which said that Vodafone (VOD) has agreed to a deal to acquire the Spanish cable operator.

ONO's shareholders are due to hold an annual meeting on Thursday, when they could approve the IPO, which would effectively end any takeover talks.

There's no word on the value of the IPO, although ONO's investors would reportedly want above €7B in any M&A.

Liberty Global (LBTYA) has also been eying ONO.


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Comments (3)
  • Veritas1010
    , contributor
    Comments (3346) | Send Message
    For a no vote for a VOD and AT&T hook-up this is welcomed news.


    But, you do get the distinct feeling that VOD's upper management truly has no abiding interest in this rumored get together.


    Again, hard to tell if this is a good or bad thing for both firms. Street acted negatively on this past Friday.
    10 Mar 2014, 03:12 AM Reply Like
  • Vinofilo
    , contributor
    Comments (109) | Send Message
    The market not liking it today. Down another 3.21 % before the market opens. 7 billion might be very high for ONO, which is scaring away investors. But VOD is desperate for revenue in its European market. My experience is that the Spanish at least are less interested in bundling than US counterparts.
    10 Mar 2014, 08:18 AM Reply Like
  • Veritas1010
    , contributor
    Comments (3346) | Send Message
    It's hard to buy good management. VOD has always had an issue here. I had hoped that the shareholder friendly settlement with VZ Wireless boded better things to come.


    But, old habits are hard to break. And I suppose VOD's poor judgement is just a reversion to the mean, which for this firm is questionable.
    11 Mar 2014, 06:17 PM Reply Like
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