Ono - more Auna speculation

15 Apr 2005

The Spanish cable company Ono has reportedly made an informal offer to acquire the cable TV networks of the Auna Group. Dow Jones Newswires, citing a spokesperson at Auna shareholder Unión Fenosa, says Ono is offering up to EUR2.6 billion for the cable networks and is lining up financial back from US and European investment groups. Last November, Ono shareholders rejected a EUR2.4 billion merger offer from Auna. Besides its cable networks, which serve around 700,000 customers, Auna also operates Spain’s number three mobile operator Amena and provides fixed line services. Ono, meanwhile, has around 650,000 cable customers, around 92% of which subscribe to its cable telephony services.