ONO: Vodafone v IPO, shareholders to decide
March 10, 2014
From David Del Valle in Madrid
Spain’s largest cable company ONO must decide between Vodafone’s purchase bid and an IPO. The decision will be known later on this week after the shareholders’ meeting takes place on Thursday.
For now the company continues to prepare its flotation on the Stock Market, issuing shares priced at €8.30. However a purchase agreement with Vodafone is reportedly very close. Vodafone has started the due diligence process in order to launch a binding offer for ONO. Initially, Vodafone has offered almost €7 billion for the Spanish cable company.