Vodafone Group Plc
13 June 2003
13 June 2003
SALE OF STAKES IN MEXICAN AND INDIAN OPERATORS
Vodafone Group Plc ('Vodafone') today announces that Vodafone Americas BV, a
wholly owned subsidiary, has agreed to sell its 34.5% stake in Grupo Iusacell,
S.A. de C.V. ('Iusacell') to Movil Access. Movil Access is a wholly owned
subsidiary of Biper, a publicly quoted paging company in Mexico. Iusacell is the
third largest mobile operator in Mexico.
Movil Access will launch tender offers in Mexico and the USA for all the shares
of Iusacell, subject to certain approvals. Verizon Communications and Vodafone
Americas BV together own approximately 74% of Iusacell's equity and have agreed
to tender their shares to Movil Access. Approval to launch the tender offers is
expected in mid July and, subject to satisfaction of certain conditions, the
offers are expected to close in August.
On 5 June 2003, Vodafone International Inc, a wholly owned subsidiary of
Vodafone, agreed, subject to conditions, to sell its indirect 20.76% interest in
RPG Cellular Services Ltd, a regional operator in Chennai, India. The
transaction is expected to complete in early July.
The value of both transactions represents less than 1% of the net assets of
Vodafone.
- ends -
For further information:
Vodafone Group
Tim Brown, Group Corporate Affairs Director
Tel: +44 (0) 1635 673310
Investor Relations Media Relations
Melissa Stimpson Bobby Leach
Darren Jones Ben Padovan
Tel: +44 (0) 1635 673310 Tel: +44 (0) 1635 673310
Tavistock Communications
Lulu Bridges
Justin Griffiths
Tel: +44 (0) 20 7600 2288
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.