Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

3/18/2014 (2 years 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 (2 years 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 Ł25 billion of the Ł84 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'


Copyright 2016 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for NOVEMBER 2016
Universal:
Countries Receiving Refugees: That the countries which take in a great number of displaced persons and refugees may find support for their efforts which show solidarity.
Evangelization: Collaboration of Priests and Laity: That within parishes, priests and lay people may collaborate in service to the community without giving in to the temptation of discouragement.



Comments


More Europe

Shocking surprise for Russian bomb squad - Suspicious boxes reported at bus stop Watch

Image of The bombs squad was preparing to detonate the box when they discovered its contents (CEN).

By Kenya Sinclair (CALIFORNIA NETWORK)

Russia's bomb squad responded to calls of two suspicious cardboard boxes left on a bus stop bench in Ulan-Ude. LOS ANGELES, CA (Catholic Online) - The packages were reported by concerned bus passengers who noticed the boxes were sealed with tape and didn't appear to ... continue reading


'I was accused of giving my opinion' - Christian teaching assistant shares views of Bible and is met with disciplinary action Watch

Image of Teacher Victoria Allen received an apology from her school (SWNS).

By Kenya Sinclair (CALIFORNIA NETWORK)

Christian teaching assistant, Victoria Allen was asked about same-sex marriage by a student. When she gave her opinion, the school took immediate disciplinary action. LOS ANGELES, CA (Catholic Online) - Allen was approached by the 14-year-old student during an English ... continue reading


Germany arrests intel officer promoting and recruiting extremists for Islamic attack plan Watch

Image of Germany stays prepared to end any terrorist attacks.

By Kenya Sinclair (CALIFORNIA NETWORK)

A 51-year-old officer working for Germany's domestic security agency, Germany's equivalent to the FBI, has been arrested after allegedly being involved in plotting a terrorist attack. LOS ANGELES, CA (Catholic Online) - According to the < ... continue reading


Healthy man euthanized because he was addicted to alcohol Watch

Image of A healthy man had himself euthanized because he was addicted to alcohol.

By Marshall Connolly (CALIFORNIA NETWORK)

A man in the Netherlands has ended his life by euthanasia because he was addicted to alcohol. LOS ANGELES, CA (California Network) -- A man in the Netherlands has ended his life by euthanasia because he was an alcoholic. Mark Langedijk, 41 chose to end his life because ... continue reading


What does the world's oldest woman have in common with Rocky Balboa? Watch

Image of Emma Morano and Rocky Balboa have one habit in common.

By Kenya Sinclair (CALIFORNIA NETWORK)

Emma Morano, Europe's oldest woman, was born November 29, 1899. She is 117-years-young and attributes her longevity to the same habit as fictional boxer Rocky Balboa. LOS ANGELES, CA (Catholic Online) - Morano, who is the last person alive to have lived in the 19th ... continue reading


Jesus - the King of Poland? Watch

Image of Poland declared Jesus Christ is the King of Poland.

By Kenya Sinclair (CALIFORNIA NETWORK)

Churches across Poland celebrated the enthronement of Jesus Christ as the King of Poland last Sunday. LOS ANGELES, CA (Catholic Online) - At the Church of Divine Mercy in Krakow, Poland last Saturday, Catholic Bishops of Poland met before President Andrzei Duda and ... continue reading


What it's like in Slovenia, Melania Trump's homeland Watch

Image of Melania Trump is from Slovenia, a picturesque country.

By Kenya Sinclair (CALIFORNIA NETWORK)

Melania Trump's homeland is tucked neatly away between Austria, Croatia, Hungary and Italy. LOS ANGELES, CA (Catholic Online) - The breathtaking beauty of Slovenia reveals lands mostly untouched by man.Slovenia's capital, Ljublijana, is home to only 300,000 ... continue reading


Spanish judge dismisses charges against Eucharist thief Watch

Image of Eucharist thief has charges dropped.

By (CNA/EWTN News)

Critics of a Spanish judge say he wrongly dismissed charges against an artist who stole consecrated Hosts for an exhibit that disrespected the Catholic faith. Madrid, Spain (CNA/EWTN News) -The Spanish Association of Christian Lawyers announced it would file an appeal ... continue reading


'Where is the man? No one speaks about the man' - Nuns look to clients in fight against prostitution Watch

Image of In the fight against prostitution, who is fighting the clients?

By Elise Harris (CNA/EWTN News)

For religious sisters working to end forced-prostitution through human trafficking, there is one thing consistently left out of the conversation: the clients - who they are and how they are dealt with. Rome, Italy (CNA/EWTN News) - "We are especially looking at the ... continue reading


THE RESURRECTION OF CHRIST - Oldest crucifix 'resurrected' from the belly of St. Peter's Basilica Watch

Image of A wooden crucifix from the 14th century has been

By Kenya Sinclair (CALIFORNIA NETWORK)

In the depths of St. Peter's Basilica, Christ bleeds. LOS ANGELES, CA (Catholic Online) - His face holds an expression of both pain and knowledge. His lips are parted and blood drips from the wounds on his battered body.Nailed forever to the arms of a cross.[media ... continue reading


All Europe News

Newsletters

Newsletter Sign Up icon

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

Subscribe to Catholic OnlineYouTube Channel

Daily Readings

Reading 1, Isaiah 30:19-21, 23-26
19 Yes, people of Zion living in Jerusalem, you will weep no more. He ... Read More

Psalm, Psalms 147:1-2, 3-4, 5-6
1 Alleluia! Praise Yahweh -- it is good to sing psalms to our God -- how ... Read More

Gospel, Matthew 9:35--10:1, 6-8
35 Jesus made a tour through all the towns and villages, teaching in ... Read More

Saint of the Day

Saint of the Day for December 3rd, 2016 Image

St. Francis Xavier
December 3: St. Francis Xavier was a Navarrese-Basque Roman ... Read More