A deal could be announced in the next few weeks, said Bloomberg, citing two people familiar with negotiations.
There is no guarantee that Vodafone and Ono will reach an agreement and the company’s owners could decide to float the company instead, said the people.
Ono was in talks with investment banks about a share sale, according to an earlier Bloomberg report.
The company could be valued at €6.4bn in an IPO including debt, or 8.5 times its 2012 EBITDAm FGA/MG Valores strategist Francisco Salvador told Bloomberg.
Ono is backed by Thomas H. Lee Partners, Providence Equity Partners and CCMP Capital.
Last November it was reported that CCMP was nearing a final close for its third fund, which it expected to close on $3.5m in the first quarter of 2014.
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