- 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.
at CNBC.com (Nov 19, 2014)