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)

Copyright (c) 2018 Dow Jones & Company, Inc.
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