Vodafone Group Plc (VOD.L) is in talks to acquire Spain's main cable operator Grupo Corporativo ONO SA (IPO-ONO.MC), 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 (VOD.L) and Orange (ORAN.PA), which are trying to capture a larger share of the Spanish market to make headway against former monopoly Telefonica (TEF.MC).
(Reporting by Aashika Jain in Bangalore; Editing by Edwina Gibbs)