Vodafone 2006 Annual Report Download - page 121

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Vodafone Group Plc Annual Report 2006 119
34. Employees
An analysis of the average employee headcount by category of activity is shown below.
2006 2005
Number Number
By activity:
Operations 12,541 11,923
Selling and distribution 17,315 16,410
Administration 31,816 29,426
61,672 57,759
By segment:
Mobile telecommunications:
Germany 10,124 10,183
Italy 7,123 7,213
Spain 4,052 3,949
UK 10,620 11,260
Other Mobile Operations 22,895 18,858
Common functions 2,628 2,201
57,442 53,664
Other operations:
Germany 4,086 4,095
Other 144 –
4,230 4,095
Total continuing operations 61,672 57,759
Discontinued operations:
Japan 2,733 3,033
The cost incurred in respect of these employees (including directors) was:(1)
2006 2005
£m £m
Continuing operations:
Wages and salaries 1,879 1,752
Social security costs 242 233
Share based payments 109 130
Other pension costs (see note 25) 80 70
2,310 2,185
Note:
(1) From continuing operations. The cost incurred in respect of employees (including directors) from discontinued operations was £155 million (2005: £191 million).
35. Subsequent events
On 17 March 2006, the Group announced an agreement to sell its 97.7% holding in Vodafone Japan to SoftBank. The transaction completed on 27 April 2006, with the Group
receiving cash of approximately ¥1.42 trillion (£6.9 billion) including the repayment of intercompany debt of ¥0.16 trillion (£0.8 billion). In addition, the Group received non-cash
consideration with a fair value of approximately ¥0.23 trillion (£1.1 billion), comprised of preferred equity and a subordinated loan. SoftBank also assumed debt of approximately
¥0.13 trillion (£0.6 billion).
On 13 December 2005, the Group announced it had agreed to acquire substantially all the assets and business of Telsim Mobil Telekomunikasyon (“Telsim”) from the Turkish
Savings Deposit and Investment Fund. The acquisition completed on 24 May 2006. The cash paid on this date was US$4.67 billion (£2.6 billion).
Financials