Navigate this market better. Subscribe for FREE stock alerts and information.

Tuesday, January 28, 2014

Europe's cable sector braces for more deals, (NASDAQ: LBTYA)

Europe's booming cable sector is set for another round of deal-making as the private-equity owners of cable companies in Spain, Sweden and Norway head for the exit and giants like Vodafone and Liberty Global compete for targets.Ono, Spain's largest cable group, has become subject to a bidding war between Vodafone and Liberty Global and talks with its private equity owners are ongoing, said two people familiar with the situation on Tuesday.Ono had been planning an initial public offering (IPO) this year, but it may be pre-empted by a bid of at least 7 billion euros ($9.6 billion), or 10 times its 2012 operating profit, bankers said.Ono's main shareholders are U.S. funds CCMP Capital, Providence Equity Partners, Thomas H. Lee Partners and Quadrangle Capital Partners.

Shares of LBTYA traded higher by 1.14% or $0.93/share to $82.35. In the past year, the shares have traded as low as $62.71 and as high as $90.93. On average, 1708530 shares of LBTYA exchange hands on a given day and today's volume is recorded at 4953077.