Abstract: The invention relates to an arrangement for winding a cable or the like on and off a reel with a center hole, which arrangement comprises two movable, substantially vertical support arms (1), which are supported by a frame structure and the free arm ends of which are provided with spindles (2) arranged to be inserted to the center holes of the reel (3) between the support arms, when the support arms (1) are being moved towards one another, whereby the reel can be raised from the foundation by means of vertical adjustment of the support arms (1) to enable the winding. To achieve a simple structure, the spindles (2) are arranged floatably to the ends of the support arms (1) allowing the spindles (2) to move freely in different directions. As a result of the support arms moving towards one another and resting against the center hole of the reel (3), the spindles (2) are arranged to move axially with respect to the support arms (1) into a position in which the spindles (2) are locked to the support arms (1).