From David Del Valle in Madrid

Spain’s largest cable company ONO has reduced by 87 per cent its losses in 2008 to E26 million and now hopes to end the current year breaking even.

ONO’s EBITDA was E703 million, up 10.6 per cent. Total revenues were 0.8 per cent down to E1.603 billion, with residential revenues increasing by 3.6 per cent up to E1.219 billion and ARPU of E53.2, up 1.9 per cent.

ONO ended the year with 1,853,000 subs, down 0.3 per cent. There were 632,000 for triple play, TV subscribers grew by 8.2 per cent up to 1.039 million, adding 79,000, with broadband subs increasing by 6.7 per cent up to 1.283 million.

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