Vodafone closes in on a mammoth €18.4bn acquisition in Eastern Europe
Vodafone now becomes the largest provider of converged telecoms services in Europe
Vodafone has officially completed the acquisition of a string of Liberty Global’s assets in Eastern Europe for €18.4 billion.
Vodafone will take possession of Liberty’s operations in Germany, the Czech Republic, Hungary and Romania.
“With the acquisition of Liberty’s assets in Germany and CEE, we have completed our transformation into Europe’s leading converged operator. Not only have we reshaped our business, becoming the owner of the largest gigabit-capable next generation network infrastructure in the region, we are now able to play our part in realising the digital society for millions of customers,” said Vodafone Group CEO, Nick Read.
The deal officially makes Vodafone the largest provider of converged telecoms services in Europe, knocking Deutsche Telekom into second place. Vodafone now boasts 124 million homes and businesses on its next generation networks across Europe.
Vodafone said that just under half of its total revenues in Europe came from growing fixed and converged services packages.
In other news, Vodafone Group has also announced the full divestiture of Vodafone New Zealand for €2.1 billion. The 100 per cent sale of Vodafone New Zealand was made to a consortium headed up by Infratil Limited and Brookfield Asset Management Inc.
“This transaction is a continuation of our strategy to optimise our portfolio and reduce our debt. I am pleased we will continue our 21-year relationship with the business and talented team in New Zealand through a Partner Market agreement, delivering Vodafone’s technology and services to benefit the country as it transitions to a digital society,” Read said.