Vodafone to acquire Spain's Ono for 7.2b euros

Washington: 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.

The Wall Street Journal also reported that this deal includes Ono's 3.34-billion-euro debt. The remainder would be paid in cash to Ono shareholders, who are led by a group of US investment funds, according to the report.

Ono, which had 1.87 million customers in December, has struggled to compete in Spain with Telefonica, Jazztel and other firms that bundle in-home services.