VOD Vodafone Group Plc

TIDMVOD

RNS Number : 9907X

Vodafone Group Plc

25 November 2014

25 November 2014

VODAFONE GREECE COMPLETES THE ACQUISITION 72.7% OF HELLAS ONLINE

Vodafone Group Plc today confirms that Vodafone Greece has completed the acquisition of 72.7% of the share capital of Hellas Online SA ("HOL"), a leading provider of broadband and fixed-line telephony in Greece, for a total cash consideration of EUR72.7m. Vodafone Greece now owns 91.2% of HOL and will extend a mandatory takeover offer for the remaining shares in HOL. The transaction values the fully diluted equity of HOL at EUR100m and is equivalent to an enterprise value of EUR311m including HOL's adjusted net debt of EUR211m(1) .

(1) Adjusted net debt of EUR211m based on reported net debt as at 31 December 2013 of EUR157.3m adjusted for EUR0.7m of derivative financial instruments, EUR43.1m of related party financing and EUR10.0m preference shares issued in December 2011

Note: exchange rate of GBP1.00:EUR1.263

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Enquiries:

Vodafone Group

 
 Investor Relations   Tel: +44 (0) 7919 990 230 
 Media Relations      www.vodafone.com/media/contact 
 

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 53 more, and fixed broadband operations in 17 markets. As of 30 September 2014, Vodafone had 438 million mobile customers and 11 million fixed broadband customers. For more information, please visit: www.vodafone.com.

About Hellas Online

Hellas Online ("HOL") is one of the leading providers of fixed-line telephony services in Greece, providing a range of voice and internet access services. HOL owns and operates a large core backbone network throughout continental Greece and through its points of presence (PoPs) it offers significant population coverage of the two largest cities in Greece, Athens and Thessaloniki.

HOL has provided internet access services in Greece since 1993, having been one of first internet service providers (ISPs) in the country and has evolved from an ISP to a fixed-line telecommunications services provider offering a broad range of retail, business and wholesale services.

This information is provided by RNS

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