London - Britain's Vodafone has agreed to buy Spanish cable operator Ono for 7.2 billion euros in a deal that is set to be announced on Monday, a person familiar with the matter told Reuters.

The purchase of private equity-backed Ono will be Vodafone's third European fixed-broadband acquisition in two years as the company seeks to improve its networks and shore up its European businesses after the $130-billion sale of its US arm.

Vodafone declined to comment. - Reuters