Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

3/18/2014 (4 months ago)

Catholic Online (www.catholic.org)

Agreement meant to expand Vodafone's presence in Europe

In a deal aimed at expanding its interests in Europe, Vodafone has agreed to buy Spanish cable operator Ono for $10 billion in U.S. dollars. Private equity-owned, Ono offers cable TV and internet services and has 1.9 million customers in Spain. Vodafone boss Vittorio Colao said the deal was "an attractive value creation opportunity."

Europe's communications market is consolidating as Vodafone and rivals such as billionaire John Malone's Liberty Global vie for assets.

Europe's communications market is consolidating as Vodafone and rivals such as billionaire John Malone's Liberty Global vie for assets.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

3/18/2014 (4 months ago)

Published in Europe

Keywords: Vodafone, Ono, Spain, European saturation


LOS ANGELES, CA (Catholic Online) - The deal arrives six months after Vodafone bought a controlling stake in German cable operator Kabel. Vodafone now says it plans to spend up to £25 billion of the £84 billion it generated from the sale of its stake in Verizon Wireless on investment in its core European networks.

Ono's private equity owners, before the Vodafone deal, had been planning to float the company on the Madrid stock exchange.

Prayer, fasting and almsgiving.

The enlarged business would help to "drive innovation in the Spanish telecommunications industry," Jose Maria Castellano Rios, chairman of Ono's board of directors, said.

The deal puts Vodafone in a better position to compete with rivals such as Telefonica and Orange. "It follows the strategy they are already pursuing in Germany and in Europe in general, which is to expand their overall offer to their clients by adding cable service to their wireless services," Peregrine & Black analyst Markus Huber says.

Mike McCudden, head of derivatives at online broker Interactive Investor, agreed the purchase was a "shrewd strategic move" for Vodafone, noting that the deal would provide it with the fixed-line operation it currently lacked in Spain.

Buying Germany's Kabel Deutschland last year, Vodafone is adding both internet and television services across Europe as it looks for ways to compensate for falling cellular revenue.

The deal might spur more takeovers as rivals tried to match Vodafone's size. "It's the start of a whole new set of merger and acquisition stories, pan-European," Robin Bienenstock of Sanford C. Bernstein said. "You start to see cross-border stuff."

Vodafone shares rose as much as 1.82 percent by 1.30pm in London. The stock has lost one percent in the past year.

Private equity firms Providence Equity Partners, CCMP Capital Advisors, Quadrangle Capital Partners and Thomas H Lee Partners are all Ono shareholders. The four together hold about 54.4 percent of the Spanish operator.

Europe's communications market is consolidating as Vodafone and rivals such as billionaire John Malone's Liberty Global vie for assets.

AT&T remains interested in buying Vodafone even after giving up the option to bid for the carrier for six months, sources said in January.

AT&T has expressed interest in Europe's move into fourth-generation wireless networks, which are a few years behind services in the U.S. and present the opportunity for carriers to charge a premium.

---


Pope Francis: end world hunger through 'Prayer and Action'


© 2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for July 2014
Sports:
That sports may always be occasions of human fraternity and growth.
Lay Missionaries: That the Holy Spirit may support the work of the laity who proclaim the Gospel in the poorest countries.



Comments


More Europe

Spanish priest packs them into church - by dancing the flamenco Watch

Image of Father Pepe danced in front of the late Pope John Paul II at the Vatican in 1997. He says w he will retire this coming September.

By Catholic Online (NEWS CONSORTIUM)

Jose Planas Moreno, known as "Father Pepe," has revived interest in his church in Malaga, Spain. The priest has brought parishioners flocking back to the Nuestra SeƱora Del Carmen church in Campanilla, a district of Malaga, with his unusual style of worship. ... continue reading


LUNCH SURPRISE: Pope Francis eats with Vatican employees in surprise visit Watch

Image of The Pope spent about an hour dining at a table with around 10 other people.

By Catholic Online (NEWS CONSORTIUM)

A "lunch surprise" usually means an item that's not on the menu offered at a lower price. At the Vatican, employees got quite a "lunch surprise" on Friday when their "boss" and bishop, Pope Francis, turned up at their cafeteria. LOS ANGELES, CA (Catholic Online) ... continue reading


Stop! I am asking you with all my heart. Stop! - Pope Urges End to Wars in Ukraine, Iraq and Gaza

Image of Brothers and sisters: never war.My thoughts go especially to the children, from whom we take away the hope for a decent life: dead children, injured children, maimed children, orphaned children, children who have war relics for toys, children who do not know how to smile.- Pope Francis

By Asia News

He mentions children, victims of war, "from whom we take away the hope for a decent life," urging the parties to address "every diatribe with the tenacity of dialogue and negotiation and the power of reconciliation". As tomorrow marks 100 years since the outbreak ... continue reading


Meriam Ibraham is Free! The Living God Has Heard the Cry of His People! Jesus Christ is Lord! Watch

Image of Meriam receives the blessing and the gratitude of the successor of Peter, Francis.- What should be front and center in every Christian news report on this remarkable story is that God intervened on behalf of Meriam and her family. The God whom we profess is real and His power is greater than any regime or any form of opposition. Yes, He used men and women, and even government leaders, to accomplish His deliverance. He often does. But it was His Love and Mercy which broke the shackles of evil. He deserves all the praise.

By Deacon Keith A Fournier

The photo of Pope Francis blessing Meriam Ibrahim and her little daughter Maya in the Casa Santa Marta on Thursday, July 24, 2014, reciving a blessing from a smiling Pope Francis, made millions of hearts leap for joy. The God of love answers the prayers of His ... continue reading


'A negative act necessarily must be condemned:' Vatican revising law on abuse penalties Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

In regards to canonical law regarding acts of sexual misconduct, according to law ended up being too vague, Bishop Juan Ignacio Arrieta says, church sanctions were being applied so haphazardly that the church appeared to be divided. In response, the Vatican is ... continue reading


VILE: Somali girl smuggled into United Kingdom for organ harvesting Watch

Image of In perhaps the most horrific recent case, law enforcement learned that a Somali girl had been brought to England for the express purpose of harvesting her organs for transplant.

By Catholic Online (NEWS CONSORTIUM)

There has been a noticeable uptick of cases of human trafficking in the United Kingdom. In perhaps the most horrific recent case, law enforcement learned that a Somali girl had been brought to England for the express purpose of harvesting her organs for ... continue reading


HORRIFIC ABUSE: 18-year-old girl coerced into group sex while being recorded on cell phone Watch

Image of The incident is being called an example of

By Catholic Online (NEWS CONSORTIUM)

An 18-year-old girl performed explicit sex acts on 24 men on a dance floor with the promise of a holiday - which never arrived. Presented with a mixed drink for her acts of indecency, the sordid episode was recorded on a cell phone camera - for the world to ... continue reading


Female genital mutilation threatens young females in England, Wales Watch

Image of The Department of Health has ordered hospitals to report signs of genital mutilation. The first statistics aren't due until September.

By Catholic Online (NEWS CONSORTIUM)

Far away from Africa and parts of Asia, girls and young women are still at risk for female genital mutilation, or FGM within the United Kingdom. The barbaric practice, FGM, is still carried out among various immigrant females in both Great Britain and Wales. ... continue reading


Putin vs. the World: One plane crash may spell the end for Russian president's ambitious plan of conquest Watch

Image of Russian backed separatists stand around wreckage from the downed Malaysian Airlines plane.

By Catholic Online (NEWS CONSORTIUM)

World opinion continues to oppose Russian President Vladimir Putin, with the destruction of Malaysian Airlines Flight 17 over Ukraine being the most notable and recent example of Russian interference in Ukraine. LOS ANGELES, CA (Catholic Online) - Time and evidence ... continue reading


Prophetic Pope Does It Again: Words to an Economic Conference Make Waves Watch

Image of Pope Francis is absolutely correct. It is not

By Deacon Keith A Fournier

On July 12, 2014, this prophetic Pope made waves again. He addressed participants in an international conference entitled - The Global Common Good: Towards A More Inclusive Economy. The conference was convened in Rome and sponsored by the Pontifical Council for ... continue reading


All Europe News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Jeremiah 13:1-11
1 Yahweh said this to me, 'Go and buy a linen ... Read More

Psalm, Deuteronomy 32:18-19, 20, 21
18 (You forget the Rock who fathered you, the God who ... Read More

Gospel, Matthew 13:31-35
31 He put another parable before them, 'The kingdom ... Read More

Saint of the Day

Saint of the Day for July 28th, 2014 Image

St. Innocent I
July 28: Innocent was born at Albano, Italy. He became Pope, succeeding ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter