Vodafone to buy Ono for $10bn

Telecoms giant Vodafone is set to buy the Spanish cable operator Ono for $10bn.

The deal comes just six months after Vodafone bought a controlling stake in the German cable operator Kabel.

Vodafone Chief Executive Vittorio Colao said: “The combination of Vodafone and Ono creates a leading integrated communications provider in Spain and represents an attractive value creation opportunity for Vodafone."

Ono offers TV and Internet services and has around 1.9 million customers in Spain.

The acquisition means that Vodafone will be able to add extra products to its tariffs as well as reduce the cost of carrying its calls around the country.

The Ono deal will be Vodafone’s biggest acquisition since its $130bn sale of its stake in the US mobile network Verizon Wireless that took place earlier this year.

 Laura Bracher, London

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