ONO not for sale, but would buy Xfera…

23 Apr 2008

Shareholders in Spanish cableco ONO have told the Expansion newspaper that the time is not right for it to be sold. ‘Shareholders perceive that this is not the right time to sell, to obtain liquidity. Not now, nor in twelve months’ time,’ Eugenio Galdon told the paper, adding that the company has only recently started to reap the fruits of its purchase of telecoms operator Auna in 2005. ONO’s shareholders include banking group Santander and a number of private equity firms. Galdon also said that if France Telecom does end up buying TeliaSonera , ONO would be interested in acquiring Xfera Moviles, the Swedish company’s wireless arm which operates in Spain under the Yoigo brand and competes with Orange Espana.

Spain, Grupo Corporativo ONO, Xfera Moviles (Yoigo)