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Vodafone Said to Move Closer to Ono Deal as IPO Delayed

Vodafone Group Plc and Grupo Corporativo Ono SA’s owners are moving closer to a takeover agreement after the Spanish cable company delayed plans for an initial public offering, according to people familiar with the matter.

The two parties are negotiating outstanding details and an agreement could be announced as early as March 17, said two of the people, who asked not to be identified because the talks are private. The deal could still fall apart and Ono is keeping the IPO option open, they said. The Newbury, England-based company previously offered about 7.2 billion euros ($10 billion), including debt, for Ono, one person said yesterday.