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Vodafone to Buy Ono in $10 Billion Spanish Cable Push

Vodafone Group Plc, the world’s second-largest wireless carrier, agreed to buy Spanish cable operator Grupo Corporativo Ono SA in a 7.2 billion-euro ($10 billion) transaction to boost TV and broadband offerings.

The purchase gives Vodafone 1.9 million customers in Spain, complementing its mobile service and helping it challenge Telefonica SA and Orange SA. The deal will generate savings of about 2 billion euros and potential revenue addition of 1 billion euros, Newbury, England-based Vodafone said today.