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

Secure remote control for conventional and virtual desktops

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. ®

Boost IT visibility and business value

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer quits Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
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.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.