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Vodafone paying 10.4x cash flow for Spain’s Ono: Reuters

Vodafone has agreed to buy Spain’s largest cable operator, Ono , for 7.2 billion euros ($10 billion), the latest hefty deal in a European telecoms sector starting to rebuild as the region recovers from a recession, sister news service Reuters reported. Ono is 54 percent owned by a group of large buyout shops.

Reuters – Providence Equity Suffers Senior Asia departure

Providence Equity Partners has lost another top executive in Asia, its fourth senior departure in the region since 2008, as it struggles with a limited supply of suitable investment targets and a shrinking volume of Asian private equity deals, writes Reuters. Patrick Corso, a senior managing director, has stepped down as head of Providence’s Hong Kong office, people familiar with the move told Reuters.

Reuters – NFL, Providence Equity Form Strategic Investment Partnership

The National Football League and Providence Equity Partners have formed a strategic partnership to focus on investing in sports- and entertainment-related media assets, writes Reuters. The NFL and the New York-based private equity firm said they will commit equity and jointly operate the global strategic partnership. Terms of the commitments were not public.

NFL and Providence Form Media Partnership

The National Football League and Providence Equity Partners have formed a global strategic partnership to invest primarily in sports and entertainment-related media assets. The NFL and Providence will each commit equity to the partnership and operate it jointly, leveraging the NFL and Providence’s media expertise. The partnership will target growth equity investments of approximately $25 to $50 million in private companies around the world and have the capacity to make larger investments as needed.

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