(Alliance News) - FTSE 100-listed Vodafone Group PLC on Thursday said it has agreed to sell Malta unit to Monaco Telecom SAM.
The sale will be processed through the telecommunications firm's subsidiary Vodafone Europe BV, with a cash consideration payable for Malta operations equivalent to an enterprise value of EUR250 million.
For the financial year ended March 31, Vodafone Malta generated EUR82 million of revenue, and EUR32 million of earnings before interest, taxes, depreciation and amortization.
Following completion of the transaction, Vodafone Malta will continue to operate under the Vodafone brand for a transitional period, the company noted.
The transaction is conditional on regulatory approval from the Malta Communications Authority, with completion expected in the first quarter of 2020.
Vodafone shares were trading 0.3% lower in London on Thursday morning at 150.02 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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