Vodafone Malta, Melita to Merge
May 24 2017 - 2:55AM
Dow Jones News
By Ian Walker
LONDON--Telecoms giant Vodafone Group PLC (VOD.LN) Wednesday
said it plans to merge its Malta unit with Melita Ltd. in a deal
that values the combined group at 506 million euros ($565.3
million)
Vodafone said the deal won't have a material impact on the
group's free cash flow or earnings, and won't be consolidated into
its accounts.
Under the merger, the current shareholders of Melita will own
51% of the combined company and Vodafone Europe B.V., the current
shareholder of Vodafone Malta, will own the remaining 49%.
The combined company's mobile and enterprise business will
operate under the Vodafone brand and distribute a wide range of
services, Vodafone said.
The combined company is also expected generate cost synergies
through the rationalization of overlapping activities and greater
network investment efficiency it introduces 4.5G, and subsequently
5G, mobile networks and gigabit-capable fixed networks, Vodafone
added.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
May 24, 2017 02:40 ET (06:40 GMT)
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