VOD » Topics » SUBSEQUENT EVENTS

This excerpt taken from the VOD 6-K filed May 28, 2008.

SUBSEQUENT EVENTS

 

ZYB

 

On 16 May 2008, Vodafone acquired 100% of ZYB, a privately owned company based in Denmark, which operates a social networking and online management tool enabling mobile phone users to back-up and share their handsets’ contact and calendar information online, for cash consideration of €32 million (£25 million).

 

Arcor

 

On 19 May 2008, the Group acquired 26.4% of Arcor previously held by minority interests for cash consideration of €474 million (£377 million).  Following this transaction, Vodafone owns 100% of Arcor.

 

Qatar

 

In December 2007, a consortium comprising Vodafone and the Qatar Foundation for Education, Science and Community Development (the “Qatar Foundation”) was named as the successful applicant in the auction to become the second mobile operator in Qatar.  Subject to regulatory approvals, the licence is expected to be awarded by 30 June 2008.  The licence will be owned by Vodafone Qatar, of which 45% is expected to be owned by the joint venture formed between Vodafone (owning 51%) and the Qatar Foundation (owning 49%), 15% to be owned by Qatari government institutions and the remaining 40% to be made available to Qatari citizens through a public offering expected to be completed in the 2008 calendar year.  Following the public offering, the Group expects its effective equity interest in Vodafone Qatar to be 22.95%. The Group also currently expects that Vodafone Qatar will be accounted for as a subsidiary, as Vodafone expects to control management decisions.

 

By 30 June 2008, Vodafone Qatar expects to pay QAR 4,630 million (£626 million), representing 60% of the cost of the mobile licence, with the balance of the licence cost to be paid following completion of the public offering.  The Group could be required to fund up to a maximum of QAR 1,551 million (£210 million) of the total licence cost, with the precise amount dependent on the success of the public offering.  The remainder of the licence cost will be funded by the other shareholders of Vodafone Qatar.

 

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This excerpt taken from the VOD 6-K filed Nov 23, 2007.

SUBSEQUENT EVENTS

 

On 6 October 2007, the Group announced that it had agreed to acquire Tele2 Italia SpA (“Tele2 Italy”) and Tele2 Telecommunication Services SLU (“Tele2 Spain”) from Tele2 AB Group for a cash consideration of 775 million (£537 million) on a debt free basis.

 

Tele2 Italy and Tele2 Spain each provide nationwide fixed line telecommunications and broadband services. Tele2 Italy had over 2.6 million customers as at 30 June 2007, including over 400,000 broadband customers. Tele2 Spain had 550,000 customers as at 30 June 2007, including over 240,000 broadband customers.

 

The transaction is expected to be completed by the end of the calendar year, following receipt of regulatory approval.

 

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This excerpt taken from the VOD 6-K filed Nov 14, 2007.
SUBSEQUENT EVENTS

 

On 6 October 2007, the Group announced that it had agreed to acquire Tele2 Italia SpA (“Tele2 Italy”) and Tele2 Telecommunication Services SLU (“Tele2 Spain”) from Tele2 AB Group for a cash consideration of €775 million (£537 million) on a debt free basis.

 

Tele2 Italy and Tele2 Spain each provide nationwide fixed line telecommunications and broadband services.  Tele2 Italy had over 2.6 million customers as at 30 June 2007, including over 400,000 broadband customers. Tele2 Spain had 550,000 customers as at 30 June 2007, including over 240,000 broadband customers.

 

The transaction is expected to be completed by the end of the calendar year, following receipt of regulatory approval.

 

This excerpt taken from the VOD 6-K filed May 30, 2007.

SUBSEQUENT EVENTS

 

On 8 May 2007, the Group completed its acquisition from Hutchison Telecom International Limited’s (“HTIL”) of companies with interests in Hutch Essar. Following this acquisition, Vodafone controls Hutch Essar. Vodafone has paid US$10.9 billion (£5.5 billion) in cash to HTIL, reflecting retention and closing adjustments agreed between Vodafone and HTIL.

 

In conjunction with the acquisition of Hutch Essar, the Group entered into a share sale and purchase agreement with a Bharti group company regarding the Group’s 5.60% direct shareholding in Bharti Airtel. On 9 May 2007, the Bharti group company irrevocably agreed to purchase this shareholding and the Group expects to receive $1.6 billion in cash consideration for such shareholding by November 2008. The shareholding will be transferred in two tranches, the first before 31 March 2008 and the second by November 2008. Following the completion of this sale, the Group will continue to hold an indirect stake of 4.39% in Bharti Airtel.

 

On 23 May 2007, the European Parliament voted to introduce regulation on retail and wholesale roaming prices. The Group expects roaming revenues to be lower year on year in 2008 due to the combined effect of Vodafone’s own initiatives and this direct regulatory intervention.

 

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This excerpt taken from the VOD 6-K filed Dec 1, 2006.

SUBSEQUENT EVENTS

 

On 8 November 2006, the Group announced its intention to launch a tender offer for an additional 4.9% of the shares in Vodafone Egypt for a maximum possible consideration of approximately £108 million.  As a result of the tender offer, which closed on 29 November 2006, Vodafone received acceptances which will take its shareholding in Vodafone Egypt to 54.9%, with a further 44.7% held by Telecom Egypt.  Vodafone and Telecom Egypt also announced they have entered into a strategic partnership to increase co-operation between both parties and to jointly develop a range of products and services for the Egyptian market.

 

This excerpt taken from the VOD 6-K filed Nov 15, 2006.

SUBSEQUENT EVENTS

 

On 8 November 2006, the Group announced its intention to launch a tender offer for an additional 4.9% of the shares in Vodafone Egypt for a maximum possible consideration of approximately £108 million.  Telecom Egypt has given an irrevocable undertaking to accept the tender in respect of at least 3.97% and up to 4.69% of the shares in Vodafone Egypt.  If fully accepted, this tender offer will take Vodafone’s shareholding in its Egyptian subsidiary to 55%, with a further 45% held by Telecom Egypt.  Subject to regulatory approvals, the tender offer is expected to be launched later in November 2006.  Vodafone and Telecom Egypt also announced they have entered into a strategic partnership to increase co-operation between both parties and to jointly develop a range of products and services for the Egyptian market.

 

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This excerpt taken from the VOD 6-K filed May 31, 2006.

Subsequent events

 

On 17 March 2006, the Group announced an agreement to sell its 97.7% holding in Vodafone Japan to Softbank.  The transaction completed on 27 April 2006, with the Group receiving cash of approximately ¥1.42 trillion (£6.9 billion) including the repayment of intercompany debt of ¥0.16 trillion (£0.8 billion).  In addition, the Group received non-cash consideration with a fair value of approximately ¥0.23 trillion (£1.1 billion), comprised of preferred equity and a subordinated loan.  Softbank also assumed debt of approximately ¥0.13 trillion (£0.6 billion).

 

On 13 December 2005, the Group announced it had agreed to acquire substantially all the assets and business of Telsim Mobil Telekomunikasyon (“Telsim”) from the Turkish Savings Deposit and Investment Fund.  The Group is not acquiring Telsim’s liabilities, including those related to Motorola and Nokia, with the exception of certain minor employee-related liabilities.  In addition to the consideration price, the Group will be required to pay US$0.4 billion of VAT which will be recoverable against Telsim’s future VAT liabilities. Vodafone expects to recover this payment over the short to medium term.  The acquisition completed on 24 May 2006.  The cash paid on this date was US$4.67 billion (£2.6 billion).

 

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This excerpt taken from the VOD 6-K filed Jun 8, 2005.

Subsequent events

On 13 April 2005, the Group’s associated undertaking, Verizon Wireless, completed its purchase of NextWave Telecom Inc. for $3 billion in cash.

On 11 May 2005, it was announced that an agreement had been reached to merge Cegetel with neuf telecom.

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