Vodafone in talks to buy Spain's cable operator ONO -Bloomberg

Sun Jan 26, 2014 9:26pm EST

Jan 26 (Reuters) - Vodafone Group Plc is in talks to acquire Spain's main cable operator Grupo Corporativo ONO SA , which could derail ONO's plans for an initial public offering, Bloomberg news reported, citing sources.

A deal could be announced in the next few weeks, Bloomberg quoted one of the sources as saying.

Vodafone and ONO could not be reached for a comment outside of regular working hours.

Sources told Reuters in December that Ono, once listed, would likely be a takeover target for bigger competitors Vodafone and Orange, which are trying to capture a larger share of the Spanish market to make headway against former monopoly Telefonica.