Vodafone renews ONO bid

February 26, 2014 10.41 Europe/London By Julian Clover

ono-hqA Vodafone purchase of ONO is back on the agenda in a move that could derail the Spanish cablenet’s plans for an IPO.

Bloomberg reported talks between ONO and Vodafone, just days after the appointment of Deutsche Bank and JPMorgan to plan the forthcoming IPO.

It is understood that ONO’s board had been divided on whether to accept Vodafone’s earlier offer for the company or as was decided push ahead with the much touted plan to go to market.

The company has placed a value on itself between €7 – €8 billion.

Investment funds Providence Equity Partners, Thomas H. Lee Partners, CCMP Capital Advisors, and Quadrangle Capital own a controlling 54% of ONO.