Ono shareholders nearing deal with Vodafone
Published 15/03/2014 | 02:30
SHAREHOLDERS of cable company Ono are close to reaching a deal with Vodafone on an offer to buy the Spanish group for about €7.2bn including debt.
Shareholders in private equity-backed Ono gave the green light to a planned initial public offering of the company at a meeting this week, but were still holding out for a deal with Vodafone, a source told Reuters. For Vodafone, a purchase of Ono would be its third European fixed-broadband acquisition in two years as the company seeks to improve its networks and shore up its European businesses after the $130bn (€93.4bn) sale of its US arm.