Deals

Vodafone buys Ono for $10B to add landlines and cable to its wireless service

Image Credit: http://www.flickr.com/photos/stephenliveshere/425100484/

Looks like landlines are still a thing in Europe — so much so that British telecom giant Vodafone just shelled out $10 billion (€7.2 billion) for Ono, a Spanish cable-and-landline company, according to a GigaOM report.

Last month, Vodafone sold back its 45 percent stake in Verizon Wireless to the parent company for $130 billion, as we reported. The deal was the third largest corporate buyout ever, and it gave a hefty infusion of cash to Vodafone to settle accounts and give it the freedom to make purchases, such as this one.

This acquisition follows several telecom recent deals, a trend including both U.S. and foreign companies. These deals include T-Mobile’s purchase of MetroPCS for $1.5 billion, Japan’s Softbank purchasing 78 percent of Sprint for $21.6 billion, AT&T buying Leap Wireless for $1.1 billion, and Vodafone acquiring 76.57 percent of Kabel Deutschland for $7.7 billion, according to GigaOM.

Vodafone’s purchase of a majority stake in German cable operator Kabel was a telltale sign of a European telecom trend of the consolidation of various companies into more well-rounded providers (combining wireless with landline, adding Internet providers or television cable, and so on). The acquisition of Ono is thus yet another step in that direction.

More about the companies and people from this article:

Vodafone Group is a mobile telecommunications company. The company has a significant presence in Europe, the Middle East, Africa, Asia Pacific and the United States. In the United States the group’s associated undertaking operates as... read more »

Powered by VBProfiles