Vodafone drops Oni hunt

13 Oct 2006

Vodafone Portugal has abandoned a bid for fixed line operator Oni because it feels that the higher offers placed by two rival bidders over-value the company. BizWorld reports that Portuguese businessman Joao Pereira Coutinho and an unidentified private equity fund are the remaining bidders for Oni. It is thought that these two have offered around twice as much as what Vodafone was willing to pay for Oni, whose current shareholders include utility firm Energias de Portugal.

Portugal, Vodafone Portugal