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118
Vodafone Group Plc
Annual Report 2012
Notes to the consolidated nancial statements (continued)
12. Principal subsidiaries
At 31 March 2012 the Company had the following principal subsidiaries carrying on businesses which affect the prots and assets of the Group.
TheGroup comprises a large number of subsidiaries and it is not practical to include all of them in the list below. The list therefore only includes
thoseprincipal subsidiaries which affected the Group accounts. A full list of subsidiaries with signicant holdings and associated undertakings(both
as dened in the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008) as at 15 August 2012 will be annexed
to the Company’s next annual returnled with the Registrar of Companies. No subsidiaries are excluded from the Group consolidation. Unless
otherwise stated the Company’s principal subsidiaries all have share capital consisting solely of ordinary shares and are indirectly held. The country
of incorporation or registration of all subsidiaries is also their principal place of operation.
Name Principal activity
Country of incorporation or
registration
Percentage
shareholdings1
Vodafone D2 GmbH Network operator Germany 100.0
Vodafone España S.A.U. Network operator Spain 100.0
Vodafone Limited Network operator England 100.0
Vodafone Albania Sh.A. Network operator Albania 99.9
Vodafone Czech Republic a.s. Network operator Czech Republic 100.0
Vodafone-Panafon Hellenic Telecommunications Company S.A. Network operator Greece 99.9
Vodafone Magyarorszag Mobile Tavkozlesi Zartkoruen Mukodo
Reszvenytarsasag2Network operator Hungary 100.0
Vodafone Ireland Limited Network operator Ireland 100.0
Vodafone Malta Limited Network operator Malta 100.0
Vodafone Libertel B.V. Network operator Netherlands 100.0
Vodafone Portugal-Comunicações Pessoais, S.A.3Network operator Portugal 100.0
Vodafone Romania S.A. Network operator Romania 100.0
Vodafone Telekomunikasyon A.S. Network operator Turkey 100.0
Vodafone India Limited4Network operator India 84.5
Vodacom Group Limited Network operator South Africa 65.0
Vodacom Congo (RDC) s.p.r.l.5 6 7 Network operator
The Democratic
Republic of Congo 33.2
Vodacom Tanzania Limited5 7 Network operator Tanzania 42.3
VM, S.A.5 8 Network operator Mozambique 55.3
Vodacom Lesotho (Pty) Limited5Network operator Lesotho 52.0
Vodacom Business Africa Group (PTY) Limited5Holding company South Africa 65.0
Vodafone Egypt Telecommunications S.A.E. Network operator Egypt 54.9
Ghana Telecommunications Company Limited Network operator Ghana 70.0
Vodafone New Zealand Limited Network operator New Zealand 100.0
Vodafone Qatar Q.S.C.7Network operator Qatar 23.0
Vodafone Group Services Limited9Global products and services provider England 100.0
Vodafone Marketing S.a.r.l. Provider of partner market services Luxembourg 100.0
Vodafone Holding GmbH Holding company Germany 100.0
Vodafone Holdings Europe S.L.U. Holding company Spain 100.0
Vodafone Europe B.V. Holding company Netherlands 100.0
Vodafone International Holdings B.V. Holding company Netherlands 100.0
Vodafone Investments Luxembourg S.a.r.l. Holding company Luxembourg 100.0
Vodafone Procurement Company S.a.r.l. Group services provider Luxembourg 100.0
Vodafone Roaming Services S.a.r.l. Group services provider Luxembourg 100.0
Vodafone Americas Inc.10 Holding company US 100.0
Notes:
1 Effective ownership percentages of Vodafone Group Plc at 31 March 2012, rounded to nearest tenth of one percent.
2 Trades as Vodafone Hungary Mobile Telecommunications Company Limited.
3 38.6% of the issued share capital of Vodafone Portugal-Comunicações Pessoais, S.A. is directly held by Vodafone Group Plc.
4 At 31 March 2012, the Group had a 64.4% interest in Vodafone India Limited (name changed from Vodafone Essar Limited on 11 October 2011) (‘VIL’) through wholly owned subsidiaries and a further 20.1% indirectly through
less than 50% owned entities giving an aggregate 84.5% interest. The Group has call options to acquire shareholdings in companies which indirectly own a further 4.5% interest in VIL. The shareholders of these companies
also have put options which, if exercised, would require Vodafone to purchase the remaining shares in the respective company. If these options were exercised, which can only be done in accordance with the Indian law
prevailing at the time of exercise, the Group would have a direct and indirect interest of 89.0% of VIL.
5 Shareholding is indirect through Vodacom Group Limited. The indirect shareholding is calculated using the 65.0% ownership interest in Vodacom.
6 The share capital of Vodacom Congo (RDC) s.p.r.l. consists of 1,000,000 ordinary shares and 75,470,588 preference shares.
7 The Group has rights that enable it to control the strategic and operating decisions of Vodafone Qatar Q.S.C., Vodacom Congo (RDC) s.p.r.l. and Vodacom Tanzania Limited.
8 The share capital of VM, S.A. consists of 60,000,000 ordinary shares and 547,294,533 preference shares.
9 Share capital consists of 600 ordinary shares and one deferred share, of which 100% of the shares are indirectly held by Vodafone Group Plc.
10 Share capital consists of 395,834,251 ordinary shares and 1.65million class D and E redeemable preference shares, of which 100% of the ordinary shares are indirectly held by Vodafone Group Plc.