Vodafone to buy Spain’s Ono: report

Britain’s Vodafone has reached a deal to buy Spanish cable company Ono for seven billion euros ($9.73 billion), The Wall Street Journal reported Sunday.

The deal includes Ono’s 3.34-billion-euro debt, the Journal said, citing unnamed sources familiar with the agreement.

The remainder would be paid in cash to Ono shareholders, who are led by a group of US investment funds, according to the report.

Ono, which had 1.87 million customers in December, has struggled to compete in Spain with Telefonica, Jazztel and other firms that bundle in-home services.

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