Vodafone eyes up €8bn Spanish cable asset
Published 11/02/2014 | 02:30
VODAFONE has approached Spanish Cable operator Grupo Corporativo ONO's owners about a potential acquisition as the cable company meets this week to discuss an initial public offering or a sale.
Vodafone has contacted Madrid-based ONO's main shareholders about a possible purchase. A bid by Vodafone will probably have to be in the range of €7bn to €8bn to win the board's backing, based on feedback from investor meetings for a share sale.
As cable providers accelerate offers of combined broadband, phone and television services, Numericable SAS of France and its shareholder Altice have raised more than $2.6bn (€1.9bn) in separate initial stock sales in recent months.
Ben Padovan, a spokesman for Vodafone, declined to comment, as did a spokeswoman for ONO.
Bloomberg News reported late last month that Vodafone is seeking to acquire ONO and that a deal may be announced in a few weeks.