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General

Ono deal vote of confidence in Spain's economy-Vodafone CEO

Monday 17 March 2014 | 15:27 CET | News
Vodafone's deal to buy Spanish cable provider Ono for EUR 7.2 billion is not a gamble but a reflection of the UK group's belief that the local economy is recovering after a long recession, according to Vodafone CEO Vittorio Colao. In an interview with business daily Expansion, Colao stressed that the acquisition of Ono represented "a vote of confidence in the future of the Spanish economy." The CEO added that the Spanish government had implemented "the right reforms to enable GDP to grow at the fastest pace since 2008." Vodafone said the deal would enable it to save EUR 240 million annually

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Categories: General
Companies: Ono / Vodafone
Countries: Spain
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