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Saturday 30 August 2014

Ono shareholders nearing deal with Vodafone

Published 15/03/2014 | 02:30

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Vodafone signage

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.

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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.

Irish Independent

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