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Tuesday, March 15, 2005

Vodafone aquires Connex Romania

The rebranding of Connex was completed a couple of months ago. Here comes the aquisition of the Romanian company by Vodafone.

Vodafone today announces that its wholly-owned subsidiary Vodafone International Holdings B.V. has entered into agreements with Telesystem International Wireless Inc. ("TIW") of Canada to acquire approximately:

79% of the share capital of MobiFon S.A. ("MobiFon") in Romania. This will increase Vodafone and its subsidiaries' ("Vodafone Group") ownership in MobiFon to approximately 99%;

100% of the share capital of Oskar Mobil a.s. ("Oskar") in the Czech Republic
for a cash consideration of approximately USD 3.5 billion (GBP 1.8 billion) to be satisfied from Vodafone Group's cash resources (the "Transaction"). In addition, Vodafone Group will be assuming approximately USD 0.9 billion (GBP 0.5 billion) of net debt.

Commenting on the acquisitions, Arun Sarin, Chief Executive of Vodafone, said:

"I am delighted that MobiFon and Oskar, both fast growing mobile operators, will become part of Vodafone, where they will benefit fully from the global services and scale benefits that our group can deliver. These acquisitions will create value for our shareholders and will be good for our customers. They are also consistent with our stated strategy of increasing investment in Central and Eastern Europe."

More info HERE.

Posted by Mihai : 3/15/2005 06:37:00 pm