Feeds

Voda flogs Japanese arm

That's that then

Boost IT visibility and business value

Vodafone is to flog its troubled Japanese operation to Softbank for £8.9bn (Y1.8 trillion), the monster cellco confirmed today.

Its retreat from Japan follows bucket loads of speculation about the future of the business, confirmed earlier this month when Voda announced that it was in talks to sell the business.

Although Vodafone Japan had some 14m subscribers in July 2005 - putting it in third place behind DoCoMo and KDDI - recently it has seen revenue and prospects slide.

Voda insists it has has been making "progress on the turnaround in recent months". However, due to increased competition in Japan, "reduced prospects for superior long term returns" and SoftBank's tempting offer of almost £9bn, Voda decided the deal was good for shareholders.

Indeed, once the sale is compete the cellco intends to return £6bn to investors, equivalent to around 10p a share.

"I am pleased to announce this transaction which represents a good outcome for Vodafone," said Voda boss Arun Sarin, who has been under pressure in recent weeks following damaging allegations of boardroom splits.

Shares in Vodafone were up 2p (1.54 per cent) at 132p in early morning trading. ®

Maximizing your infrastructure through virtualization

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.