Voda, T-Mobile have a spring-clean
PrintBuyouts in Japan and US
Posted in Mobile, 26th May 2004 11:02 GMT
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Vodafone has fulfilled its promise to buy out its Japanese units. It is spending £2.6bn on taking back full control of two companies: Vodafone Holdings KK and Vodafone KK.
A Vodafone spokesman told The Deal that the Japanese units, with 18 per cent market share, were not gaining new customers fast enough, he said the acquisition would "get the business moving".
The mobile giant is offering £1.6bn for Vodafone Holdings KK, a 20 per cent premium on current share prices. It plans to merge the units.
In other news, T-Mobile USA, the smallest mobile operator in the US, is spending $2.3bn on three regional networks. T-Mobile will buy networks in California, Nevada and New York City from Cingular.
T-Mobile parent Deutsche Telekom has also been linked with buying out the remaining half of Polska Telefonia and the fixed-line business of Czech incumbent Cesky Telecom. ®
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