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Vodafone sells its stake in SFR

Posted By TelecomTV One , 16 June 2011 | 0 Comments | (0)
Tags: Vodafone business acquisitions Finance mobile telcos

 

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In a brief statement just released, Vodafone has confirmed that it has completed its sale of its holding in French operator SFR. First announced in April, the deal has now been cleared by the relevant competition and regulatory authorities.

 

Vodafone has received €7.75 billion in cash from Vivendi for its 44 per cent holding in SFR, plus a final dividend payment from SFR of €200 million. Vodafone and SFR have also entered into a Partner Market agreement, which will maintain their commercial co-operation.

 

Vodafone further announced that its £4 billion associated share buyback programme “will commence shortly”.

 

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