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General

Ono FY losses rise to EUR 642 mln after Vodafone cleanup

Thursday 25 June 2015 | 10:44 CET | News
A review of the accounts of Spanish operator Ono by its new owner Vodafone has revealed a far larger loss than the UK group initially anticipated, reports El Pais. Vodafone completed the purchase of Ono in July 2014 for EUR 7.2 billion, subsequently admitting that Ono's consolidation had left a EUR 400 million hole in the group's accounts for part of the last tax year. However, companies registry filings have now disclosed that the losses in fact totalled EUR 642.2 million, most of them attributable to the company's operating subsidiary Cableuropa, now named Vodafone Ono, which lost EUR 576

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Categories: General
Companies: Ono / Vodafone
Countries: Spain
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