Auna TLC acquisition boosts ONO 3Qs

29 Nov 2006

Grupo Corporativo ONO, the largest cable operator in Spain, has announced a 124.8% rise in pro forma EBITDA year-on-year for the third quarter of 2006, on the back of its acquisition of Auna Telecomunicaciones (Auna TLC). In the three months ended 30 September ONO posted EBITDA of EUR146 million (USD192 million) as revenues rose 179.2% to EUR411 million. The takeover of Auna TLC was evident in the 105.7% rise in net debt, which increased to EUR3.06 billion. ONO ended September with 1.525 million residential telephony customers and 986,000 residential broadband customers; the bulk of its users took services via the company’s cable network, with 66,000 customers taking unspecified services via unbundled local loops (ULLs).

According to TeleGeography’s GlobalComms database, in July 2005 ONO entered into a definitive agreement to purchase Auna TLC for approximately EUR2.25 billion. Auna TLC was established in 2000 to oversee the fixed line and cable interests of Auna Group, which was itself created from the merger of the Spanish telecoms, broadcasting and cable units of Telecom Italia, Endesa and Unión Fenosa. It is a cable network operator and fixed line provider of retail and wholesale triple-play voice, data and TV services. The deal was completed in November 2005 and ONO immediately began integrating Auna’s operations into its own. The acquisition near-doubled ONO’s telephony and broadband customer bases, and the consolidated company is now the country’s largest cable operator by far.

Spain, Grupo Corporativo ONO