Vodafone sets Arcor price ceiling

17 Apr 2008

Thomson Financial reports that the UK’s Vodafone Group is willing to pay up to EUR560 million (USD888.7 million) for the remaining shares in German subsidiary Arcor. The news originally appeared in Financial Times Deutschland, which cited negotiation sources. Vodafone will offer between EUR300 million and EUR400 million to Deutsche Bahn for its 18% stake in the fixed line operator, and another EUR140 million to EUR160 million to Deutsche Bank, which owns 8%. The deal is expected to complete by the beginning of May at the latest. Meanwhile, employee representatives have indicated that they expect a complete integration of Arcor into Vodafone will have a significant impact on job security at Arcor’s headquarters in Eschborn, near Frankfurt.

Germany, Vodafone Germany, Vodafone Group