Feeds

Voda flogs Japanese arm

That's that then

Top 5 reasons to deploy VMware with Tegile

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. ®

Intelligent flash storage arrays

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Lawyers mobilise angry mob against Apple over alleged 2011 Macbook Pro crapness
We suffered 'random bouts of graphical distortion' - fanbois
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
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.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.