Vodafone Looks to ONO

Image of dead fish in the river Oder in Germany. Credit: [email protected]_Schwaderer

SPANISH cable group ONO looks like it will be sold to British telecommunications group Vodafone.

 

According to Reuters “people with knowledge of the discussions” said that a preliminary deal was reached today (Friday).

 

No price has been announced, but it is thought it would have to be substantially higher than the €7 billion the company was being prepared to be listed at.

 

The purchase, if it goes through, is part of a plan to expand and improve its European business after the sale of its US arm for $130 billion (€93.8 billion) last year.

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