Vodafone 2007 Annual Report Download - page 25

Vodafone Group Plc Annual Report 2007 23
Summary of transactions since 31 March 2004
•25 May 2004 – Japan: Increased effective stake in Vodafone K.K. to 98.2%
and stake in Vodafone Holdings K.K. to 96.1% for £2.4 billion.
•1 October 2004 – Japan: Merger of Vodafone K.K. and Vodafone Holdings
K.K. completed. The Group’s stake in the merged company was 97.7%.
•12 January 2005 – Hungary: Vodafone Hungary became a wholly owned
subsidiary of the Group following various transactions throughout the
2005 financial year.
•26 January 2005 – Egypt: Disposed of 16.9% of Vodafone Egypt reducing
the Group’s effective interest to 50.1%.
•11 May 2005 – France: The Group’s effective shareholding in Neuf Cegetel
became 12.4% after a transaction completed by the Group’s associated
undertaking SFR.
•31 May 2005 – Czech Republic and Romania: 79.0% of the share capital
of MobiFon S.A. (“MobiFon”) in Romania, and 99.9% of the share capital of
Oskar Mobil a.s. (“Oskar”) in the Czech Republic were acquired for
$3.5 billion (£1.9 billion). In addition, the Group assumed approximately
$1.0 billion (£0.6 billion) of net debt.
•18 November 2005 – India: Acquired a 5.61% interest in Bharti and on
22 December 2005 acquired a further 4.39% interest in Bharti. Total
consideration for the combined 10.0% stake was Rs. 67 billion
(£858 million).
•5 January 2006 – Sweden: Sold Vodafone Sweden for €970 million
(£660 million).
•20 April 2006 – South Africa: Increased stake in Vodacom Group (Pty)
Limited (“Vodacom”) by 15.0% to 50.0% for a consideration of
ZAR15.8 billion (£1.5 billion).
•27 April 2006 – Japan: Disposed of 97.7% stake in Vodafone Japan for
¥1.42 trillion (£6.9 billion) including the repayment of intercompany debt
of ¥0.16 (£0.8 billion) to SoftBank. The Group also 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).
•24 May 2006 – Turkey: Telsim Mobil Telekomunikasyon (“Telsim”) was
acquired for $4.67 billion (£2.6 billion).
•29 June 2006 – Greece: Since Vodafone Greece announced a public offer
for all remaining shares not held by the Group on 1 December 2003, the
Group increased its effective interest in Vodafone Greece to 99.8% at
31 March 2006. Between 1 and 29 June 2006, the Group acquired a
further 0.1% interest in Vodafone Greece through private transactions at a
price equal to the price paid in the public offer, leading to an interest
of 99.9%.
•3 November 2006 – Belgium: Disposed of 25% interest in Belgacom
Mobile SA for €2.0 billion (£1.3 billion).
•25 November 2006 – Netherlands: Group’s shareholdings increased to
100.0% following a compulsory acquisition of outstanding shares.
•3 December 2006 – Egypt: Acquired an additional 4.8% stake in Vodafone
Egypt bringing the Group’s interest to 54.9%.
•20 December 2006 – Switzerland: Disposed of 25% interest in Swisscom
Mobile AG for CHF4.25 billion (£1.8 billion).
•8 May 2007 – India: Acquired companies with interests in Hutchison Essar
for $10.9 billion (£5.5 billion), following which the Group controls
Hutchison Essar (see note 35 to the Consolidated Financial Statements).
•9 May 2007 – India: A Bharti group company irrevocably agreed to
purchase the Group’s 5.60% direct shareholding in Bharti Airtel (see note
35 to the Consolidated Financial Statements).
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