Feeds

Spanish cable firm Ono says oh yes to €7.2bn Vodafone takeover

1.9 million subs... great. But it's really about scrummy fibre

Eight steps to building an HP BladeSystem

As has been widely speculated, the Spanish cable company Ono has accepted a €7.2bn (£6bn) offer from Vodafone, dropping its plans for an IPO.

Vodafone is growing its unified communications strategy across Europe and this follows a similar purchase of Kable Deutschland.

The price of 7.5 times EBITA is considered low by some analysts, who point to an industry norm of between 10 and 12 times EBITA, but the sale provides a good return for the four venture funds Anglo-CCMP, Providence, Thomas H Lee and Quadrangle, which invested in 2005.

The Ono brand is well regarded in Spain, offering broadband at 100Mb/s and 200Mb/s with strong fixed telephone and TiVo based subscription TV offers, and this ties in well with Vodafone’s plans to expand its FTTH build out.

The Ono infrastructure will also give Vodafone off-load and back-haul capacity, and of course there is a certain corporate satisfaction in adding 1.9 million subscribers in rival Telefonica’s home territory.

The network covers Andalusia, Aragon, Balearic Islands, Canary Islands, Cantabria, Castile-La Mancha, Castile and Leon, Catalonia, Valencian Community, La Rioja, Madrid, Region of Murcia and Navarra covering 7.2 million homes, but the deal is more about capacity than subscriber acquisition, Ono having spent  €7bn in its network since 1998. ®

Mobile application security vulnerability report

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.