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Tuesday, January 28, 2014

Vodafone, Liberty line up to purchase Spanish cable group-sources, (NASDAQ: LBTYA)

Vodafone and Liberty Global are competing to purchase Spain's largest cable operator, Ono, from its private equity owners, two people familiar with the situation said on Tuesday. Ono had been planning an initial public offering this year in a bid to capitalise on a wave of investor interest in the growing cable sector, sources told Reuters earlier.Investment funds Providence Equity Partners, Thomas H. Lee Partners, CCMP Capital Advisors, and Quadrangle Capital own 54 percent of Ono, according to the company's website.The funds are holding ongoing talks with Vodafone and Liberty, a person familiar with the situation said.Spain is one of few European countries, along with France, where Liberty is not already present. Vodafone, for its part, has been acquiring broadband assets to allow it to offer bundled services to consumers and offload traffic from its mobile networks.

Shares of LBTYA fell by 0.91% or $-0.74/share to $80.68. 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 2736347.