Vodafone Group to redeem notes worth USD5.65bn

25 Feb 2014

UK-based Vodafone Group has outlined plans to redeem approximately USD5.65 billion of its outstanding notes. Such redemptions, the company has noted, will be made using cash funds that it received in connection with the completion of the sale of its stake in US operator Verizon Wireless; the divestment was finalised at the end of last week.

As previously reported by CommsUpdate, earlier this month it was suggested that Vodafone Group could have the capacity to spend between USD30 billion and USD40 billion on acquisitions in coming years, in part as a result of the Verizon sale. Speaking at a media roundtable, Vodafone Group CEO Vittorio Colao was cited as saying that with the company likely to explore a number of possibilities regarding large-scale purchases, funds from the USD130 billion asset sale will also be invested in the group’s existing business.

United Kingdom, Vodafone Group