Vodafone gears up for Spanish challenge
June 10, 2014 10.19 Europe/London By Chris Dziadul
Spain’s Ono and its new owner Vodafone are likely to launch an integrated offer in early September.
Quoting sources familiar with the situation, El Economista reports that Vodafone’s plans are dependent on the date the company receives regulatory approval for the €7.2 billion acquisition of Ono, announced this March.
However, no problems are expected, with authorisation likely to be obtained on July 2.
Thereafter, Vodafone’s Spanish subsidiary will streamline procedures where possible to complete the purchase and integrate Ono in its current structure.
It will nevertheless be up against the clock, with competitors such as Movistar and Orange already tempting customers with strong convergent offers.
The savings generated by the merger of Ono’s and Vodafone’s operations are likely to be around €240 million from the fourth year of operation.
The companies’ combined subscriber total will be over 17.2 million.