Vodafone Group Plc AGREEMENT TO SELL VODAFONE MALTA (4607X)
19 Dicembre 2019 - 9:30AM
UK Regulatory
TIDMVOD
RNS Number : 4607X
Vodafone Group Plc
19 December 2019
19 December 2019
VODAFONE ANNOUNCES AGREEMENT TO SELL VODAFONE MALTA
Vodafone Group Plc ("Vodafone") announces that it has entered
into an agreement to sell 100% of Vodafone Malta ("VFML") to Monaco
Telecom SAM ("Monaco Telecom").(1)
Monaco Telecom has agreed to acquire VFML for a cash
consideration equivalent to an Enterprise Value of EUR250 million,
implying FY19 multiples of 7.8x EBITDA and 13.1x OpFCF(2) .
Following completion, VFML will continue to operate under the
Vodafone brand for a transitional period.
The transaction is conditional on regulatory approval from the
Malta Communications Authority, with completion expected in the
first quarter of the 2020 calendar year.
1. The selling entity is Vodafone Europe B.V., a 100% owned
indirect subsidiary of Vodafone Group Plc
2. Defined as EBITDA minus capex
- ends -
For further information:
Vodafone Group
Media Relations Investor Relations
www.vodafone.com/media/contact ir@vodafone.co.uk
About Vodafone Group
Vodafone Group is one of the world's leading telecoms and
technology service providers. We have extensive experience in
connectivity, convergence and the Internet of Things, as well as
championing mobile financial services and digital transformation in
emerging markets.
Vodafone Group has mobile operations in 24 countries, partners
with mobile networks in 41 more, and fixed broadband operations in
19 markets. As of 30 September 2019, Vodafone Group had
approximately 625 million mobile customers, 27 million fixed
broadband customers and 22 million TV customers, including all of
the customers in Vodafone's joint ventures and associates. For more
information, please visit: www.vodafone.com.
About Vodafone Malta
For the financial year ended 31 March 2019, Vodafone Malta
generated EUR82 million of revenue, EUR32 million of EBITDA and
EUR19 million of OpFCF.
Advisors to Vodafone
Akira Partners LLP is acting as exclusive financial adviser to
Vodafone and Norton Rose Fulbright LLP is acting as legal
counsel.
About Monaco Telecom
Monaco Telecom is the incumbent telecoms operator in the
Principality of Monaco, offering a comprehensive range of fixed, TV
and mobile services. Proforma for its acquisition of MTN Cyprus,
the company recorded revenues of EUR278 million in the year to 31
December 2018. The shareholders of Monaco Telecom are the
Principality of Monaco and NJJ Telecoms. NJJ Telecoms has interests
in telecoms operators in Europe in Cyprus, Ireland, Monaco and
Switzerland.
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contact rns@lseg.com or visit www.rns.com.
END
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