March 16, 2014 / 11:39 PM / in 4 years

Vodafone to buy Spain's Ono for 7.2 billion euros: source

(Reuters) - Britain’s Vodafone (VOD.L) has agreed to buy Spanish cable operator Ono for 7.2 billion euros ($10.03 billion) in a deal that is set to be announced on Monday, a person familiar with the matter told Reuters.

A man checks his mobile phone as he walks past a shop displaying the Vodafone logo on its shutter in Mumbai January 15, 2014. REUTERS/Danish Siddiqui

The purchase of private equity-backed Ono will be Vodafone’s third European fixed-broadband acquisition in two years as the company seeks to improve its networks and shore up its European businesses after the $130 billion sale of its U.S. arm.

Vodafone declined to comment. ($1 = 0.7181 euros)

Reporting by Kate Holton in London and Richa Naidu in Bangalore

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