VODAFONE TO COMPLETE ACQUISITION OF COBRA

RNS Number : 4727O

Vodafone Group Plc

07 August 2014

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART), DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

7 August 2014

Vodafone to complete acquisition of Cobra Automotive Technologies S.p.A.

Vodafone today confirms that its voluntary tender offer (the "Offer") for security and telematics provider Cobra Automotive Technologies S.p.A. ("Cobra") has become wholly unconditional. The Offer will settle on 8 August 2014. The total consideration for the entire issued share capital of Cobra is €145 million (£115 million)¹.

Vodafone will purchase more than 95% of Cobra's share capital through the Offer and will then start proceedings to purchase the remaining shares. This will result in Cobra becoming a 100% owned subsidiary of Vodafone and Cobra will also be de-listed from the Italian Stock Exchange (Borsa Italiana). The purchase of remaining shares and de-listing of Cobra are expected to occur on 14 August 2014.

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¹ At an exchange rate of £1.00:€1.253

Note to Editors

Cobra Automotive Technologies S.p.A operates in two main sectors. The first relates to the design, development, manufacture and marketing of electronic systems that includes components and burglar alarm systems as well as assistance to low-speed manoeuvres systems.

The second is focussed on the design and provision of services based on geo-location of vehicles to aid the location and recovery of stolen vehicles. This also includes smart insurance services for insurers and the management of vehicle fleets.

For further information:

Vodafone Group
Media Relations	Investor Relations
www.vodafone.com/media/contact	Telephone:  [phone]

About Vodafone

Vodafone is one of the world's largest telecommunications companies and provides a range of services including voice, messaging, data and fixed communications. Vodafone has mobile operations in 26 countries, partners with mobile networks in 52 more, and fixed broadband operations in 17 markets. As of 30 June 2014, Vodafone had 436 million mobile customers and 9 million fixed broadband customers. For more information, please visit: www.vodafone.com

About Vodafone Machine-to-Machine (M2M)

Vodafone Machine-to-Machine (M2M) connects previously isolated machines or devices to the internet, delivering new functionality and enhanced services without the need for human intervention. Supported by more than 250 dedicated employees, Vodafone's global M2M platform makes it easy for global businesses to manage centrally M2M deployments across multiple territories, with greater control and at a lower cost than previously possible.  In 2014 Vodafone was named global M2M leader by Machina Research, for the third year in a row.  For more information, please visit:  https://m2m.vodafone.com/home/

Disclaimer

This announcement does not constitute, or form part, of any offer or invitation to sell, allot or issue or any solicitation of any offer to purchase or subscribe for any securities, nor shall it (or any part of it) form the basis of, or be relied on in connection with, or act as any inducement to enter into, any contract or commitment for securities.

Neither this announcement nor any copy of it may be made or transmitted into the United States, or distributed, directly or indirectly, in the United States. Neither this announcement nor any copy of it may be taken or transmitted directly or indirectly into Australia, Canada or Japan or to any persons in any of those jurisdictions, except in compliance with applicable securities laws. Any failure to comply with this restriction may constitute a violation of United States, Australian, Canadian or Japanese securities laws. The distribution of this announcement in other jurisdictions may be restricted by law and persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions. This announcement does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase, any securities in the United States, Australia, Canada or Japan or in any other jurisdiction.

Forward Looking Statements

Certain information contained in this announcement constitutes "forward-looking statements," which can be identified by the use of terms such as "may", "will", "should", "expect", "anticipate", "project", "estimate", "intend", "continue", "target" or "believe" (or the negatives thereof) or other variations thereon or comparable terminology. Such statements express the intentions, opinions, or current expectations of Vodafone with respect to possible future events and are based on current plans, estimates and forecasts which Vodafone has made to the best of its knowledge, but which do not claim to be correct in the future. Due to various risks and uncertainties, actual events or results or actual performance of Vodafone may differ materially from those reflected or contemplated in such forward-looking statements. No assurances can be given that the forward-looking statements in this announcement will be realised. As a result, recipients should not rely on such forward-looking statements. Subject to compliance with applicable law and regulations, Vodafone undertakes no obligation to update these forward-looking statements. No representation or warranty is made as to the reasonableness of such forward-looking statements. No statement in this announcement is intended to be nor may be construed as a profit forecast.

This announcement will be available in due course (other than to persons in any jurisdiction where the publication of this announcement is restricted) on the website of Vodafone at www.vodafone.com/investor which already has available the Offer Document and other documents relating to the Offer.

 

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