Vodafone has agreed to buy Spanish cable operator Ono for 7.2 billion euros in a 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.
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.
Before the Vodafone deal, Ono’s private equity owners had been planning to float the company on the Madrid stock exchange.