Panafon Hellenic Telecom Co S.A.
12 March 2002
PRESS RELEASE
12 March 2002
Vodafone (Greece) increases its participation in Mobitel 1
Vodafone (Greece) announces it has increased its shareholding in Mobitel by
acquiring an extra 10% of Mobitel's issued share capital. Following the
purchase, Vodafone (Greece) now holds 35.01% of Mobitel's issued share capital.
The increase in share ownership is in line with Vodafone's (Greece) strategy to
invest in its Service Providers, which will facilitate better customer
satisfaction through more productive business structures. Vodafone's (Greece)
strategy to invest in its Service Providers also promotes network productivity
and creates important synergies and cost savings for customer acquisition and
customer retention.
Regarding the recent announcement with regard to the merger of Vodafone (Greece)
with its 100% subsidiary Panafon Services, the two companies' Board of Directors
announce that they have accepted the management proposals and have set 31 March
2002 as the balance sheet transformation date.
--Ends--
1 Mobitel is a Vodafone (in Greece) Service Provider
For Further Information Contact:
Dimitris Tsorbatzoglou Head of Investor Relations Tel: +301 6160019
[email protected], website www.Vodafone.gr
Lulu Bridges or Stuart Carson,
Tavistock Communications, Tel: +(44) 20 7600 2288
Nicolas Bornozis ,
Capital Link, Tel: + (212) 661 7566
Notes to Editors:
1. Panafon S.A shares are quoted on the Athens Stock Exchange and its GDSs
are quoted on the London Stock Exchange. The shares and GDS's began trading on
Monday 7 December 1998 in ASE and LSE respectively. Despite the company
adoptiing the Vodafone brand name on 21 January 2002, the company's shares
remain listed under the company's legal name of Panafon S.A.
2. Panafon S.A has 543,314,000 shares in issue (after the completion of the
merger with NextNet SA on February 18th 2002).
3. Panafon S.A is a shareholder in:
Panafon Services 100.00 per cent(is in the process of
merger with Panafon S.A)
Mobite 35.01 per cent
Ideal Telecom 51.00 per cent
Panafon International Holdings 100.00 per cent
BE- Business Exchanges 30.00 per cent
Vodafone Bulgaria 20.00 per cent
I.N.A 10.555 per cent
CBS 24.00 per cent
E-Motion 100.00 per cent
ACOM 16.00 per cent
E-Unifon 50.00 per cent
E-Motion Albania 51.00 per cent
E-Motion Cyprus 100.00 per cent
E-Kinitron 2.00 per cent (49% through E-motion Cyprus)
Mergers
Panafon Multimedia 100.00 per cent (merger completed January 2002)
Next Net 20.10 per cent (the merger completed February 2002)
Tetoma Com 100.00 per cent (merger completed January 2002
4. Panafon S.A was awarded a license to operate a GSM network in Greece for
a period of 20 years in August 1992. The network commenced operations on 1 July
1993.
5. Panafon S.A shareholding structure is as follows:
Vodafone Group Plc 51.88 per cent (includes 9.43% of its 100% subsidiary: Data Holdings)
France Telecom 10.85 per cent (includes 8.02% exchangeable bond exchanged to Panafon shares)
Intracom S.A 9.43 per cent (after the completion of the merger Intracom - Intrasoft)
Free float 27.84 per cent
Panafon S.A listings:
Shares: Athens SE, Reuters PANr.AT. Bloomberg PANF GA. Nominal value GRD 100.
ISIN GRS 307 333 005. SEDOL 556 0349.
GDRs: LSE . Reuters PANq.L. Bloomberg PFH GR, PFHD LI. ISIN US 6981 132 060.
SEDOL 556 0361.
Rule 144A: Bloomberg Nasdaq 2250Q US. ISIN US 6981 131 070. SEDOL 230 2629
Indices: ASE General Index composite (ASE): 4.663%, ASE Telecom Index (ASEDTL):
24.156%, FTSE/ASE 20 INDEX ( FTASE) : 3,401%, DJ EUROPE ST TEL (SXKP): 0.0.152%,
BE500 Bloomberg Europe: 0.042%, DJ EUROPE STOXX (SXXP): 0.013%, DJ EUROPE ST TEL
(SXKE): 0.354%, DJ EURO STOXX P (SXXE) : 0.029%, BBG EUROPE TECHN MSCI 3,52%.
This information is provided by RNS
The company news service from the London Stock Exchange