Vodafone to buy Spain's Ono for $10.03 billion: source

Mon Mar 17, 2014 12:26am EDT

1 of 2. A man checks his mobile phone as he walks past a shop displaying the Vodafone logo on its shutter in Mumbai January 15, 2014.

Credit: Reuters/Danish Siddiqui

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(Reuters) - Britain's Vodafone has agreed to buy Spanish cable operator Ono for 7.2 billion euros ($10.03 billion) in a deal that is set to be announced on Monday, a person familiar with the matter told Reuters.

The purchase of private equity-backed Ono will be Vodafone's third European fixed-broadband acquisition in two years as the company seeks to improve its networks and shore up its European businesses after the $130 billion sale of its U.S. arm.

Vodafone declined to comment.

(Reporting by Kate Holton in London and Richa Naidu in Bangalore)

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