By Adria Calatayud

Vodafone Group PLC (VOD.LN) said Thursday that it has agreed to sell its Malta operations to Monaco Telecom SAM for a cash consideration equivalent to an enterprise value of 250 million euros ($278.2 million).

The U.K. telecommunications group said the business will continue to operate under the Vodafone brand for a transitional period.

The sale is conditional on regulatory approval from the Malta Communications Authority and is expected to close in the first quarter of the 2020 calendar year, Vodafone said.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

December 19, 2019 03:51 ET (08:51 GMT)

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