Ono to submit IPO plans at 13 March general meeting, dismisses Vodafone's bid as insufficient
The management board of Cableuropa (Ono) approved the accounts for 2013 on Tuesday (11 February) and agreed to submit IPO plans to shareholders at the next general meeting on 13 March, Expansion reported. The IPO would occur in April or May, the unsourced report said.
This decision implies Ono has rejected Vodafone's reported binding takeover offer worth EUR 6.9bn, the Spanish-language item noted. It will not study Vodafone's bid, given it considers the offer to be too low, it added.
Ono could still receive a higher offer from Vodafone or Liberty Global, which has also been reported to have takeover interest.
Ono's favored banks for coordinating the listing are Deutsche Bank and JPMorgan, Expansion reported.
Source Expansion