Vodafone open to Portuguese cable acquisition

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

Less than two weeks after sealing a €7B deal to buy Spanish cable giant Ono, Vodafone (VOD -1.4%) CEO Vittorio Colao says he's open to a deal in neighboring Portugal. "If smaller cable companies were available for sale we would look at them ... If they are not available for sale, we’ll build fiber in their areas and then we will see.”

Vodafone already offers IPTV services in Portugal to go with mobile offerings. It competes against TV services from Portugal Telecom (PT -0.9%) and cable leader Zon Multimedia, and is planning to bolster its position by rolling out fiber-to-the-home services to 1.5M households. France's Altice SA owns a smaller Portuguese cable provider.

Vodafone has made it clear it plans to use some of its Verizon Wireless cash to grow its European wireline footprint via M&A and internal investments.