Vodafone ups stake in Vodafone Panafon

27 Nov 2003

Vodafone Group has revealed plans to buy out the 9.4% stake in its Greek subsidiary Vodafone Panafon owned by Intracom. The transaction, which is expected to be completed by the end of the year, will raise Vodafone’s shareholding in the Greek cellco to 74.79%. The purchase is in keeping with Vodafone’s worldwide strategy to up its stakes in its subsidiaries should the opportunity arise.