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 €250 million, implying FY19 multiples of 7.8x EBITDA and 13.1x OpFCF2.
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.
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