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Monday, February 10, 2014

Vodafone bids for Spanish cable operator Ono-sources, (NASDAQ: LBTYA)

Britain's Vodafone has made an offer to purchase Spain's largest cable operator Ono from its private-equity owners ahead of a board meeting of the Spanish company on Tuesday, two people familiar with the situation said. Other sources familiar with the matter have told Reuters that Ono, which sells fixed and mobile phone, TV and internet services, believes it has an enterprise value of at least 7 billion euros ($9.5 billion).Vodafone and Ono failed to comment on Monday. The private equity owners of the group could not immediately be reached for comment.Ono's owners had been planning an initial public offering this year in a bid to capitalise on a wave of investor interest in the increasingly successful cable sector.But the owners may now consider a straight sale as U.S. cable firm Liberty Global has also expressed an interest in recent weeks.

Shares of LBTYA traded higher by 1.46% or $1.18/share to $81.87. In the past year, the shares have traded as low as $62.71 and as high as $90.93. On average, 1924830 shares of LBTYA exchange hands on a given day and today's volume is recorded at 2370542.