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Spain: Vodafone buy to thwart Ono listing

By  |  March 7, 2014

Spain-based telco Ono is set to be acquired by UK giant Vodafone, say reports, a deal that would cancel Ono’s plans of a listing that would value the company at about $9.7 billion.

According to sources, Vodafone has made a preliminary deal with the Spanish company, which sells services for fixed phones, mobile phones, television and internet. Reports say Vodafone likely offered to acquire the company for much more than the $9.7 billion to convince Ono of the deal.

Vodafone already operates in Spain, but the majority of its operations are in the wireless industry. Both companies declined to comment on the alleged merger.

Full Content: The Telegraph

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