Vodafone in Talks to Sell Italy Unit to Swisscom

TL;DR

Vodafone in exclusive talks with Swisscom to sell Italy unit.

AI Summary

Vodafone Group Plc announced on September 30, 2024, an update regarding its Vodafone Italy operations. The company is in exclusive discussions with Swisscom AG for the sale of its Italian business. This potential sale is part of Vodafone's ongoing strategy to optimize its portfolio and improve its financial position.

Why It Matters

This potential sale could significantly impact Vodafone's European presence and financial structure, while Swisscom's acquisition would mark a major expansion into the Italian market.

Risk Assessment

Risk Level: medium — The outcome of the exclusive discussions is uncertain, and the terms of any potential sale are not yet finalized.

Key Players & Entities

• Vodafone Group Plc (company) — Registrant
• Swisscom AG (company) — Potential acquirer of Vodafone Italy
• Vodafone Italy (company) — Business unit subject to sale discussions
• September 30, 2024 (date) — Date of the announcement

FAQ

Filing Documents

• a1641g.htm (6-K) — 37KB
• 0001654954-24-012434.txt ( ) — 39KB

Risk Factors

Risk Factors   The risks noted in this announcement do not seek to cover all of the potential risks relating to the Transaction or broader risks which generally affect Vodafone. Further information on the material risks which generally affect Vodafone are set out in Vodafone's 2024 Annual Report.   They do not set out an exhaustive list or explanation of all the risks that may affect Vodafone or its shares. Additional risks and uncertainties relating to Vodafone and the Vodafone group that are not currently known to the Board, or that the Board currently deems immaterial, may, individually or cumulatively, also have a material adverse effect on the business, financial results or financial condition and prospects of Vodafone.    

Forward-looking statements

Forward-looking statements   The information in this announcement (the "Information") may constitute or include forward-looking statements. Forward-looking contain words such as "anticipate", "target", "expect", "estimate", "intend", "plan", "believe", "hope", "aims", "continue", "will", "may", "should", "would", "could", or other words of similar meaning. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Vodafone cautions you that forward-looking statements are not guarantees of the occurrence of such future events or of future performance and that in particular the actual results of operations, financial condition and liquidity, the development of the industry in which Vodafone, the Vodafone Group, Vodafone Italy and other persons involved in the Transaction operate and the outcome or impact of the transaction and related matters on Vodafone, the Vodafone Group and/or Vodafone Italy or other persons may differ materially from those made in or suggested by the forward-looking statements contained in the Information. These expectations or any

forward-looking statements could prove to be incorrect, and

forward-looking statements could prove to be incorrect, and outcomes usually cannot be influenced by Vodafone, the Vodafone Group and/or Vodafone Italy. It should be kept in mind that actual events or consequences may differ materially from expectations.   Vodafone expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements to reflect any change in Vodafone's expectations with regard thereto or any changes in events, conditions or circumstances on which any forward-looking statements are based. No representation or warranty is made that any of these forward-looking statements will come to pass or that any particular result will be achieved. Undue influence should not be given to, and no reliance should be placed on, any forward-looking statement. The Information is given at the date of this announcement and, except as requested by the FCA or required by UKLR or any other applicable law, will not be updated.   Unless expressly stated otherwise, no statement in the Information is intended to be nor may be construed as a profit forecast or valuation.       - ends -   Notes   1.       As referenced in this announcement, Adjusted EBITDAaL is defined as operating profit after depreciation on lease-related right of use assets and interest on lease liabilities but excluding depreciation, amortisation and gains/losses on disposal of owned assets and excluding share of results of equity accounted associates and joint ventures, impairment losses/reversals, restructuring costs arising from discrete restructuring plans, other income and expense and significant items that are not considered by management to be reflective of the underlying performance of the Group. 2.       As referenced in this announcement, Net Debt is defined as Gross debt less cash and cash equivalents, short-term investments, derivative fina

SIGNATURES

SIGNATURES       Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.       VODAFONE GROUP   PUBLIC LIMITED COMPANY   (Registrant)         Date: September 30, 2024 By: /s/ M D B   Name: Maaike de Bie   Title: Group General Counsel and Company Secretary

View Full Filing

View this 6-K filing on SEC EDGAR