Vodafone is lining up an expected €500 million (£340 million) bid for Ya.com, the Spanish internet service, which would mark the British company’s first non-mobile acquisition.

The group, which once rigidly pursued a “pure mobile” policy, is understood to be among the leading contenders for the Spanish broadband business, which is being sold off by Deutsche Telekom.

The German group said yesterday that it had received offers for Ya.com. Orange, the French-owned operator, is also believed to be competing for the firm.

Success in clinching Ya.com, Spain’s fourth-largest broadband provider, with 400,000 subscribers, would be a landmark for Vodafone. Arcor, its existing fixed-line business, came as a byproduct of its merger with Mannesmann in 2000.

Vodafone, which is being advised on its bid by Lehman Brothers, conceded last year that a mobile-only strategy was no longer feasible, as wireless markets mature. The move to reposition the business came after a revolt by investors who were unhappy with Vodafone’s share price and Arun Sarin, its chief executive.

However, Mr Sarin pledged to follow a predominantly “infrastructure light” strategy, mainly leasing network space rather than embarking on an internet spending spree.

The move to buy businesses in such a fiercely competitive area as broadband could raise investor concerns about the new acquisition strategy.

Vodafone declined to comment on Ya.com yesterday, but a spokesman said that the group’s policy around broadband had not changed.

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