Accelerated realisation of in

RNS Number : 8470V

Vodafone Group Plc

09 November 2010

 



9 November 2010

ACCELERATED REALISATION OF VODAFONE'S INTERESTS IN SOFTBANK

Vodafone¹ today announces that it has agreed to sell to SoftBank Corp. of Japan ("SoftBank") its interests² which were originally received as part of the proceeds from the sale of Vodafone Japan in 2006, for a total consideration of ¥412.5 billion (£3.1 billion).

The consideration will be received in two tranches: ¥212.5 billion (£1.6 billion) in December 2010 and ¥200 billion (£1.5 billion) expected in April 2012. The first tranche of the proceeds will be used to reduce Vodafone Group's net debt.

The securities had a carrying value of ¥341 billion (£2.6 billion) at 30 September 2010.

Vodafone and SoftBank Mobile Corp. will continue their close commercial partnership in driving Wholesale Applications Community (WAC) initiatives.

About Vodafone

Vodafone is one of the world's largest mobile communications companies by revenue with approximately 343 million controlled and jointly controlled customers as at 30 September 2010. Vodafone currently has equity interests in over 30 countries across five continents and over 40 partner networks worldwide. For more information, please visit www.vodafone.com.

Notes

¹ The sellers are Vodafone International Holdings B.V. and Vodafone Overseas Finance Limited, two wholly owned subsidiaries of the Vodafone Group

^2.The interests represent Loan Notes issued by SoftBank Mobile Corp., Preferred Stock and Share Acquisition Rights issued by BB Mobile Corp., both subsidiaries of SoftBank Corp.

For further information:

Vodafone Group

Investor Relations

Tel:  [phone]

Media Relations

Tel:  [phone]

 

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