Vodafone's ONO purchase reportedly cleared; Macquarie upgrades

Reuters reports the EU is set to unconditionally approve Vodafone's (VOD +0.8%) $9.8B purchase of Spanish cable provider ONO. The EU previously set a July 2 deadline for its decision.

Vodafone, which has 25% of a Spanish mobile market that has been seeing steady revenue declines, plans to use ONO to offer quadruple-play packages. The carrier bought German cable provider Kabel Deutschland for $14.2B last year as part of its effort to offer mobile/wireline bundles in big European markets.

Shares are up moderately today, aided by an upgrade to Outperform from Macquarie.

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Comments (2)
  • Veritas1010
    , contributor
    Comments (3284) | Send Message
    After all is said and done, a distressed and unloved VOD is one of the few long term buys that can offer a nice income stream and opportunities for longer term price appreciation.


    Give me your unwanted, huddled shares, yearning to distribute a solid yield-on-cost...


    disc.: long VOD, despite the numerous challenges.
    25 Jun 2014, 04:04 PM Reply Like
  • Nige Co
    , contributor
    Comments (62) | Send Message
    I know where my VOD dividend is going on 6 Aug (the dividend payment day). I cannot think of a better place to park my cash than VOD? I will be rewarded handsomely in future dividends.
    26 Jun 2014, 03:15 AM Reply Like
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