Spain: Vodafone to earn $9.8B buyout clearance

Vodafone is set to win unconditional approval by the European Commission for its $9.79 billion acquisition of Spain’s largest cable operator Ono, reports say.

Three unnamed sources said Wednesday that UK-based Vodafone will not likely be forced to divest assets as part of the agreement. The move is part of Vodafone’s efforts to strengthen its position against top rival Telefonica.

Experts say Vodafone will likely hold about 27 percent of the market after the merger.

The deal marks Vodafone’s third broadband acquisition in two years, according to reports. The Commission and Vodafone both declined to comment on the matter.

Full content: Reuters

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