Vodafone Group Sells Majority Stake in Qatar JV for EUR301 Million
February 26 2018 - 8:42AM
Dow Jones News
By Dimitrios Kontos
Vodafone Group PLC (VOD.LN) said Monday that it will sell its
51% stake in the joint venture that controls Vodafone Qatar to the
Qatar Foundation for approximately 301 million euros ($370
million).
The telecommunications company said the deal values Vodafone
Qatar at an enterprise value of about EUR1.45 billion.
The joint venture between Vodafone Group and the Qatar
Foundation owns 45% of Vodafone Qatar P.Q.S.C.
Vodafone Group will receive EUR279 million upon completion of
the sale, which is expected in the next three months, and the
remaining EUR22 million a year after completion, it said.
Vodafone Qatar will continue to use the Vodafone brand, the
company said.
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
February 26, 2018 08:27 ET (13:27 GMT)
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