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Reports say Vodafone to gobble Spanish cable outfit Ono

$US10 BEELION cheque is in the mail

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Vodafone is about to pay around $US10bn to acquire Spain's Ono, according to several sources.

The Wall Street Journal reports the deal will be announced on Monday, with $9.73bn to change hands. Bloomberg offers round $10bn, citing the same folks familiar with the report as does the Journal.

Ono is a triple-play operator, offering telephony, broadband and entertainment service to around six million subscribers.

If Vodafone is indeed about to gobble Ono, it would be the British outfit's second $10bn acquisition in two years, after is acquired Kabel Deutschland last year. It will also indicate the company is not willing to fall far behind Spanish rival Telefonica, which last year indicated it intends a massive fibre rollout in Spain.

Vodafone should be able to make the transaction handily: it's flush with funds after selling its stake in Verizon. ®

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