Bankers could pocket $62m advisory fees in Vodafone deal

Bankers working on Vodafone's $10bn deal to buy Spain's Ono could pocket up to $62m in advisory fees, according to an industry estimate, the latest windfall for dealmakers in the technology, media and telecom (TMT) sectors.

Reuters reports that Vodafone said on Tuesday it has agreed to buy Spain's largest cable operator Ono, as the British group rebuilds its European operations with a broadband offering.

Vodafone adviser Morgan Stanley and Robertson Robey Associates, who assisted the company's board, will share fees of between $22 and $27m, Freeman Consulting, which tracks bankers' fees, estimated.

Deutsche Bank, who acted as lead adviser for Ono shareholders, will receive the lion's share of a $28 to $35m fee pool. The remainder will be split with co-advisers Bank of America Merrill Lynch, UBS and JPMorgan.

TMT has been a particular bright spot for investment banks so far this year, thanks to several high-profile deals including Comcast's $45.2bn takeover of Time Warner Cable and Facebook's $19bn acquisition of messaging service WhatsApp.

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Bankers to earn up to $62 million from Vodafone deal with Ono

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