September 25, 2013 08.48 Europe/London By Julian Clover
Val Telecomunicaciones is preparing to sell its stake in Spanish cablenet Ono, ahead of the operator’s planned IPO.
Reporting the plans, Bloomberg quoted no less than five sources, including two who put a €120 million figure on the company’s 5.4% holding.
Ono’s stated position is an IPO once market conditions improve, but following the sale of Kabel Deutschland to the mobile operator Vodafone, speculation has pointed to a possible direct sale. Liberty Global has also been discussed as a potential suitor.
In the last quarter Ono reported net revenues of €401 million