Vodafone reportedly comes to terms with Ono

Consolidation continues in Europe's fragmented telecom sector, with Vodafone (VOD) inking a deal to buy Spanish cable company Ono SA for just over €7B, reports the WSJ. The U.K. player will assume Ono's €3.34B in debt and pay the rest in cash to Ono's shareholders. The planned Ono IPO approved just last week will obviously be preempted.

Vodafone has struggled competing with Spanish telecoms offering bundled packages of high-speed home Internet, pay-TV, and cell phone service, but the Ono purchase will give it a much-needed fixed line operation.

From Friday: A Vodafone/Ono deal is near.

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Comments (1)
  • StewBaby
    , contributor
    Comments (31) | Send Message
    If Vodaphone is having trouble competing with Spanish providers, how is this deal
    going to be good for the end users? Someone is gong to have to pay for the cost of the acquisition...
    17 Mar 2014, 09:25 AM Reply Like
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