March 17, 2014 / 7:15 AM / in 4 years

Vodafone agrees 7.2 bln euro deal to buy Ono

LONDON, March 17 (Reuters) - Britain’s Vodafone has agreed a deal to buy Spanish cable operator Ono for 7.2 billion euros ($10.03 billion), in the latest deal to rebuild its European operations.

Vodafone said it expected to achieve cost and capital expenditure synergies of approximately 240 million euros, before integration costs by the fourth full year after completion.

For Vodafone, a purchase of the private equity-owned Ono would be its 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.

Ono, which sells fixed and mobile phone, TV and internet services, has 1.9 million customers.

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