Feeds

Vodafone mops up Portuguese minorities

Share offer

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

The Vodafone minorities "squeeze out" juggernaut has landed in Portugal. The mobile network operator today publishes the terms of its offer to buy out the 38.6 per cent in Portuguese sub Telecel, or Vodafone Telecel-Comunicacoes Pessoais, S.A. to give it is proper name, that it does not already own.

Vodafone is offering &euro 8.5 per share, compared with Telecel's closing price yesterday of € 8.2. It says the offer is final and that it won't budge on price. If and when the company gets to 90 per cent of the share capital, it says it will exercise its right to purchase the outstanding shares compulsorily. And if it doesn't mop up at least 90 per cent of shares this time around, it may seek "other" means, available under Portuguese law, to have Telecel's shares delisted.

In January this year, Vodafone proclaimed its intention to set aside up to $2bn cash to buy out minority shareholders in Sweden, the Netherlands and Portugal. The company has already scooped up more than 90 per cent in Vodafone Europolitan in Sweden. Europolitan's shares and consequently membership of sundry stock indices will be deleted on March 3. ®

Related story

Vodafone seeks 100% control of three European units

Secure remote control for conventional and virtual desktops

More from The Register

next story
Of COURSE Stephen Elop's to blame for Nokia woes, says author
'Google did have some unique propositions for Nokia'
FCC, Google cast eye over millimetre wireless
The smaller the wave, the bigger 5G's chances of success
It's even GRIMMER up North after MEGA SKY BROADBAND OUTAGE
By 'eck! Eccles cake production thrown into jeopardy
Mobile coverage on trains really is pants
You thought it was just *insert your provider here*, but now we have numbers
Don't mess with Texas ('cos it's getting Google Fiber and you're not)
A bit late, but company says 1Gbps Austin network almost ready to compete with AT&T
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.