Softbank acquires Vodafone Japan
by Sze | Filed under Mobile Phone
Vodafone Group today announces an agreement to sell its 97.68% interest in Vodafone Japan to SoftBank. The Chief Executive of Vodafone, Arun Sarin commented:
â€Å“I am pleased to announce this transaction which represents a good outcome for Vodafone. It is at an attractive price, will result in a £6 billion distribution of capital to shareholders and is enhancing to adjusted earnings per share.”
The sale values Vodafone Japan at an Enterprise Value of approximately ¥1.8 trillion (£8.9 billion) of which £6.8 billion will be received in cash on closing. Subsequently, Vodafone will distribute £6 billion of cash to shareholders.
TweetTags: Mobile Phone, softbank, Vodafone,
Twitter
