Vodafone Group Plc ('Vodafone') today announces the compulsory acquisition of the outstanding shares in Vodafone Telecel-Comunicações Pessoais, S.A. ('Telecel') that it does not already own, further to its public offer for Telecel.
The compulsory acquisition was registered by the CMVM (the Portuguese Securities Market Commission) yesterday and becomes effective upon the publication of the announcement of the registration in Portugal. The compulsory acquisition will also result in the de-listing of the Telecel shares from any regulated market of the Euronext Lisbon.
The consideration in respect of the Telecel shares subject to the compulsory acquisition is EUR 8.50 in cash per Telecel share, being the consideration offered by Vodafone in its public offer for Telecel, the outcome of which was announced on 1 April 2003.
As a result of the compulsory acquisition, Vodafone will own, directly and indirectly, 100% of the share capital and the total voting rights in Telecel.
