Mobile phone giant Vodafone stepped up its expansion in Europe today by unveiling a £6 billion deal to buy Spanish cable operator Ono.
The acquisition of Ono, which offers high-speed broadband and pay-TV to 1.9 million customers in 13 regions of Spain, builds on Vodafone's purchase of Kabel Deutschland for around £6.5 billion last summer.
Vodafone's latest swoop comes as it looks to spend some of the proceeds of its 130 billion US dollar (£78 billion) sale of its stake in US mobile phone operator Verizon Wireless.
Vodafone is growing strongly in emerging markets such as India, but its European business has been weighed down by economic conditions, competition, and regulator-imposed price changes.
And the sector's focus has been shifting towards "quad play", which involves providing bundles of phone, broadband, mobile and pay-TV services.
Vodafone chief executive Vittorio Colao said: "Demand for unified communications products and services has increased significantly over the last few years in Spain, and this transaction will accelerate our ability to offer best-in-class propositions in the Spanish market."
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article