Vodafone Sells Softbank Holding

Stake in Japanese mobile operator sold for ¥412.5B

November 9, 2010

1 Min Read

NEWBURY, UK -- Vodafone today announces that it has agreed to sell to SoftBank Corp. of Japan ("SoftBank") its interests which were originally received as part of the proceeds from the sale of Vodafone Japan in 2006, for a total consideration of ¥412.5 billion (£3.1 billion).

The consideration will be received in two tranches: ¥212.5 billion (£1.6 billion) in December 2010 and ¥200 billion (£1.5 billion) expected in April 2012. The first tranche of the proceeds will be used to reduce Vodafone Group's net debt.

The securities had a carrying value of ¥341 billion (£2.6 billion) at 30 September 2010.

Vodafone and SoftBank Mobile Corp. will continue their close commercial partnership in driving Wholesale Applications Community (WAC) initiatives.

Vodafone Group plc (NYSE: VOD)

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