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| Vodafone to buy Spain's Ono in 7.2bn euro deal | Vodafone to buy Spain's Ono in 7.2bn euro deal |
| (about 2 hours later) | |
| Vodafone has agreed to buy Spanish cable operator Ono for 7.2bn euros ($10bn; £6bn), in deal aimed at expanding its interests in Europe. | Vodafone has agreed to buy Spanish cable operator Ono for 7.2bn euros ($10bn; £6bn), in deal aimed at expanding its interests in Europe. |
| Ono, which is private equity-owned, offers cable TV and internet services and has 1.9 million customers in Spain. | Ono, which is private equity-owned, offers cable TV and internet services and has 1.9 million customers in Spain. |
| Vodafone boss Vittorio Colao said the deal was "an attractive value creation opportunity". | Vodafone boss Vittorio Colao said the deal was "an attractive value creation opportunity". |
| The deal comes just six months after Vodafone bought a controlling stake in German cable operator Kabel. | The deal comes just six months after Vodafone bought a controlling stake in German cable operator Kabel. |
| Vodafone has said it plans to spend up to £25bn of the £84bn it generated from the sale of its stake in Verizon Wireless on investment in its core European networks. | |
| Before the Vodafone deal, Ono's private equity owners had been planning to float the company on the Madrid stock exchange. | Before the Vodafone deal, Ono's private equity owners had been planning to float the company on the Madrid stock exchange. |
| Jose Maria Castellano Rios, chairman of Ono's board of directors, said the enlarged business would help to "drive innovation in the Spanish telecommunications industry". | Jose Maria Castellano Rios, chairman of Ono's board of directors, said the enlarged business would help to "drive innovation in the Spanish telecommunications industry". |