FT and Ono close to Auna success

22 Jul 2005

French telco France Télécom and Spanish cable operator Ono are reportedly close to securing a deal to split the assets of Spain’s Auna group. Reports from a number of sources say that the two companies have had their respective bids accepted by Auna shareholders. Spanish radio station Cadena Ser and local newspaper Cinco Dias are among those claiming that Auna has agreed to sell its mobile arm Amena to France Télécom for around EUR10.6 billion in cash and shares.

Meanwhile, several sources, including the Financial Times and Dow Jones Newswires, are claiming that Ono has had its own bid accepted for Auna’s fixed line assets. The deal is valued at around EUR2.5 billion. France Télécom and Ono are competing against just one rival bidder, a consortium headed by private equity firm Providence, which had submitted separate offers for Amena and Auna’s wireline division.