Vodafone to buy Spain's Ono for 7.2 bln euros -source

Updated: 2014-03-17 10:32


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Britain's Vodafone has agreed to buy Spanish cable operator Ono for 7.2 billion euros ($10.03 billion) in a deal that is set to be announced on Monday, a person familiar with the matter told Reuters.

The purchase of private equity-backed Ono will be Vodafone's third European fixed-broadband acquisition in two years as the company seeks to improve its networks and shore up its European businesses after the $130 billion sale of its US arm.

Vodafone declined to comment.