The Wall Street Journal and Reuters have published conflicting reports about the future of ONO.
The WSJ reports that ONO’s owners are moving forward with plans for an IPO, and were due to meet with analysts and candidates for independent directors over the weekend.
However, Reuters reported on Friday that Vodafone has agreed to a deal to acquire the Spanish cable operator by raising its offer to EUR7 billion including debt. ONO is also said to have opened its books to allow Vodafone to initiate an accelerated due diligence process.
ONO’s shareholders are due to hold an annual meeting on Thursday, March 13, when they could approve the IPO, which would effectively end any takeover talks. There’s no word on the value of the IPO, although ONO’s investors would reportedly want above €7 billion in any M&A.
Apart from Vodafone, Liberty Global is also reportedly interested in the Spanish cable operator.
