Vodafone bids for full control of Telecel

28 Feb 2003

Vodafone has reputedly offered EUR715 million to buy the 39% of Portuguese cellular operator Telecel Vodafone which it does not already own. At the end of September 2002 Telecel had 2.997 million subscribers and a market share of around 32%. The purchase is part of Vodafone’s EUR4 billion plan, announced earlier this year, to increase its ownership in its Swedish, Dutch, Spanish and Portuguese subsidiaries. Vodafone has said it will not improve the offer for Telecel, which stands until 31 March.