Controlling interest in Hutch Essar
On 8 May 2007, Vodafone announced completion of the acquisition of Hutch Essar.
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Previous transactionsYear ended 31 March 2006
Significant transactions for the year ended 31 March 2006.
Year ended 31 March 2005
Significant transactions for the year ended 31 March 2005.
Year ended 31 March 2004
Significant transactions for the year ended 31 March 2004.
Significant Acquisitions - last three years
Acquisition of the assets of Telsim in Turkey
Agreement to acquire Telsim, the number two mobile operator in Turkey.
Vodafone Japan and Japan Telecom
Acquisition of additional interests in Vodafone Japan and of Japan Telecom.
Vodafone Spain
Acquisition of additional interests in Vodafone Spain.
China Mobile
Acquisition of interests in China Mobile (Hong Kong) Limited ("China Mobile").
SFR and Cegetel
Acquisition of interests in Société Française du Radiotélephone ("SFR ") and Cegetel Groupe S.A. ("Cegetel").
Significant Disposals - last four years
Vodafone Japan
Sale of Vodafone Japan.
Mannesmann
Disposal of non-core Mannesmann businesses.
Japan Telecom
Disposal of Japan Telecom.
Shinsegi
Disposal of Shinsegi.
Formation of Verizon Wireless
On 3 April 2000, the first stage of the transaction for the combination of the US cellular operations of the Company, Bell Atlantic Corporation ("Bell Atlantic") and GTE Corporation ("GTE") was completed. The combined entity, which initially consisted of the US cellular operations of AirTouch and Bell Atlantic, was launched as Verizon Wireless. Following completion of the merger of Bell Atlantic and GTE to form Verizon Communications, the second stage of the transaction was completed by the contribution of the US cellular operations of GTE to Verizon Wireless on 10 July 2000. The Group owns 45% of Verizon Wireless.
The formation of Verizon Wireless resulted in net proceeds to the Group of approximately £2.5 billion relating to the assumption of Group debt agreed with the other parties. Further proceeds of £1.8 billion and £0.2 billion were realised during the 2001 and 2002 financial years, respectively, following the disposal of overlapping properties in the US, such disposals being a condition of the regulatory approval of the transaction. No further proceeds were received during the 2003 financial year.