Vodafone agrees to buy Spain’s Ono for $10 billion

By DANICA KIRKA Published: March 18, 2014
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Vodafone to buy Spanish carrier

British telecommunications company Vodafone agreed Monday to buy Spain’s Ono for $10 billion as it seeks to expand operations across Europe.

The deal is part of a broader trend of mergers and takeovers in Europe, where the mobile industry is split among some 150 major operators crisscrossing national lines — compared to just four in the United States.

Grupo Corporativo Ono S.A. provides phone, mobile and television services to 1.9 million customers, and has the largest “next-generation network” in Spain, reaching 7.2 million homes, or 41 percent of the country. Vodafone said Ono has abundant spare capacity, giving it space to expand.

“Demand for unified communications products and services has increased significantly over the last few years in Spain, and this transaction — together with our fiber-to-the-home build program — will accelerate our ability to offer best-in-class propositions in the Spanish market,” Vodafone Chief Executive Vittorio Colao said in a statement.

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