Vodafone finalises ONO takeover bid at rumoured cost of 7.2 billion euros
Saturday, March 15, 2014 @ 9:45 PM
BRITISH multinational Vodafone is firming up the final details of a buy-out with shareholders of Spanish cable company ONO, which is rumoured to involve a price tag of 7.2 billion euros.
Part of the takeover bid will involve Vodafone paying off ONO's debts for another 3.33 billion euros, based upon figures for September 2013.
At present, no agreements have been reached as a few loose ends need to be tied up with ONO's shareholders.
ONO was due to present figures for its 2013 results yesterday (Friday) and, once a deal is reached, ONO's flotation on the Spanish stock market announced on Thursday will be held off.
The initial flotation was due to be a one-billion-euro share issue split between an offer of public sale and a public share subscription offer.
Read more at thinkSPAIN.com