MADRID, Feb 8 (Reuters) - Britain's Vodafone hasmade a formal bid for ONO which will be studied at the cablefirm's next board meeting on Febuary 11, newspaper Expansionreported on Saturday.
The companies declined to comment.
One source familiar with the situation told Reuters talkswere continuing while two other sources consulted said therewould be no offer.
Ono's owners, private equity investors, were planning aninitial public offering but may consider a straight buyout asboth Vodafone and Liberty Global are vying to buy thefirm, Spain's largest cable operator.
Ono had core earnings of 752 million euros for 2012, whichat the median multiple of 9.4 times would give an enterprisevalue of 7.1 billion euros.
One banking source consulted by Reuters, however, saidVodafone or Liberty would have to come in with a bid at amultiple of 10-12 times if it wanted to trump the IPO plan.