Vodafone Group Plc
08 May 2007
8 May 2007
VODAFONE ANNOUNCES COMPLETION OF THE ACQUISITION OF HUTCH ESSAR
Further to the announcements of 11 February and 15 March 2007, Vodafone
announces that it has today completed the acquisition from Hutchison
Telecommunications International Limited ('HTIL') of companies with interests in
Hutchison Essar Limited ('Hutch Essar'). Following this transaction, Vodafone
will control Hutch Essar.
Vodafone will pay US$10.9 billion (£5.5 billion) in cash to HTIL, reflecting
retention and closing adjustments agreed between Vodafone and HTIL.
Commenting on the transaction, Arun Sarin, Chief Executive of Vodafone, said:
'I am delighted that, having secured all the necessary regulatory approvals, we
are now able to complete this important transaction and move onto the process of
integration. India is a tremendously exciting, fast moving market and I am
confident that the Hutch Essar business will make a major contribution to the
Vodafone Group over the coming years.'
- ends -
For further information:
Vodafone Group
Investor Relations Media Relations
Telephone: +44 (0) 1635 664447 Telephone: +44 (0) 1635 664444
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