Vodaphone extends broadband reach into Spain

Britain’s Vodaphone is continuing its push into Europe’s fixed-broadband market, making its third purchase in two years by snapping up Spain’s Ono. Seven point two billion euros is the ticket price for the private-equity firm, which had been preparing to float on the market before Vodaphone stepped in.

The deal brings nearly two million customers, and nearly half of all Spanish households, into Vodaphone’s grasp, which says the purchase will allow it to make savings of 240 million euros within four years, before integration costs are factored in.