DLA Piper has advised Vodafone Holdings Europe S.L.U. (Vodafone) on its acquisition of Spanish cable company Grupo Corporativo Ono, S.A. (Ono) for €7.2 billion on a debt and cash free basis.
Ono has the largest next-generation network in Spain with approximately 7.2 million homes released to marketing serving 1.9 million customers in 13 of Spain’s 17 regions. It is the market leader in high speed broadband, offering superior speeds and the most innovative pay-TV service in Spain. The network has abundant spare capacity and a future-proof fibre architecture.
The transaction enables Vodafone to take advantage of the rapid increase in the adoption of unified communications products and services in the Spanish market and provides Vodafone with immediate access to 7.2 million homes at a significant time-to-market advantage.
The DLA Piper team consisted of 32 lawyers from the firm’s Madrid and London offices and was led by Juan Picon, Managing Director of Groups & Sectors at DLA Piper and Spain Senior Partner. Senior associate Ben Forgiel-Jenkins (Corporate, London) was Juan’s right hand on the deal. They were assisted by partner José María Jimenez Laiglesia (Competition, Madrid), associate Luis Vegas (Corporate, Madrid), legal director Santiago Lardies (Corporate, Madrid) and high-yield partner Tony Lopez (Financial Markets, London).
Juan Picon said: “A combined team from DLA Piper’s Madrid and London offices worked around the clock within a tight timeframe to assist Vodafone in delivering what is a landmark transaction in the telecommunications sector in Spain. A key factor in achieving this outcome was the way in which the DLA Piper and Vodafone teams worked together in a co-ordinated and effective manner to bring the transaction to signing.”
