Vodafone Group PLC
26 March 2002
26 March 2002
VODAFONE'S ARCOR RECEIVES EURO 1BN IN PART PAYMENT FOR AGREED SALE OF TELEMATIK
Vodafone Group Plc ('Vodafone') announces today that, following all necessary
approvals, Arcor AG & Co. ('Arcor'), a 73.6% subsidiary of Vodafone AG, has
received approximately Euro 1 billion from Deutsche Bahn AG group ('Deutsche
Bahn') in connection with the agreement for the sale of the railway specific
fixed-line telecommunications activities of Arcor, Arcor DB Telematik GmbH
('Telematik'). This is part of the overall purchase price of Euro 1.15 billion
(£708.8 million). The sale is expected to complete in April 2002 following
registration in the German commercial register ('Handelsregister').
- ends -
For further information contact:
Vodafone Group Plc
Tim Brown, Group Corporate Affairs Director
Melissa Stimpson, Head of Group Investor Relations
Bobby Leach, Head of Group Financial Media Relations
Darren Jones, Senior Investor Relations Manager
Tel: +44 (0) 1635 673310
Tavistock Communications
John West
Tel: +44 (0) 20 7600 2288
NOTES TO EDITORS
1. On completion, Arcor will sell 49.9% of Telematik's equity to Deutsche Bahn
and enter into a put/call arrangement governing the remaining 50.1%, which will
be exercisable at the earliest from 1 July 2002.
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.