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Spain: Vodafone’s Ono bid cemented at $10B

 |  March 17, 2014

UK telco Vodafone has confirmed a $10 billion bid to acquire Spain’s broadband leader Ono, according to reports.

Reports of a merger between the companies spiked in recent weeks as Vodafone looks to expand its offerings from wireless services to more well-rounded telecommunications integrations.

Ono had reportedly been planning an IPO but reports say Vodafone CEO Vittorio Colao convinced the company to continue with a buyout after increasing its bid.

Vodafone has been on somewhat of a merger spree throughout the EU, say reports, having recently acquired nearly 80 percent of Germany’s Kabel Deutschland last October. The acquisitions follow its $130 billion sale of Verizon Wireless back to Verizon Communications, a deal that closed last month.

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