Vodafone 2016 Annual Report Download - page 112
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Vodafone Group Plc
Annual Report 2016
110
Notes to the consolidated nancial statements (continued)
7. Discontinued operations and assets held for sale (continued)
Assets held for sale
On 15 February 2016 the Group agreed with Liberty Global Europe Holding B.V. to merge operations in the Netherlands as a 50:50 joint venture.
As a part of the agreement, Vodafone agreed to pay cash consideration totalling €1 billion to equalise ownership in the joint venture.
Assets and liabilities relating to our operations in the Netherlands have been classed as held for sale on the Statement of Financial Position.
The relevant assets and liabilities are detailed in the table below.
Assets and liabilities held for sale
2016
£m
Non-current assets
Goodwill 680
Other intangible assets 1,099
Plant, property and equipment 847
Trade and other receivables 27
2,653
Current assets
Inventory 25
Taxation recoverable 6
Trade and other receivables 193
Cash and cash equivalents 14
238
Total assets held for sale 2,891
Non-current liabilities
Deferred tax liabilities 6
Provisions for liabilities and charges 14
20
Current liabilities
Provisions for liabilities and charges 4
Trade and other payables 322
326
Total liabilities held for sale 346