Joussen: "Basis for growth and competitiveness"
An integrated communications will be built – buy out of minority interests for a cash consideration of EUR 474 million
Düsseldorf, 19 May 2008. Vodafone has acquired the remaining interest in the Arcor AG & Co. KG telecommunications group, which is based Eschborn near Frankfurt. It paid EUR 474 million in cash for the 26.4 percent of shares previously held by Deutsche Bahn and Deutsche Bank. Friedrich Joussen, CEO Vodafone Germany and Chairman of the Arcor Supervisory Board said, "We are creating a new and powerful communication provider with mobile communications, fixed network, data services and broadband internet products and services. Vodafone and Arcor will be pooling their strengths to position the company for further growth in Germany. That's good for competition, good for Germany and the result of the successful deregulation of the German telecommunications market. Both consumers and the two companies' employees will profit from the take-over. The comprehensive product and service portfolio that we now have optimally equips us for the process of consolidation that is taking place in our market." The Vodafone Group employs around 15,000 employees in Germany and generates total revenue of around ten billion euro.
Joussen thanked the previous shareholders, Deutsche Bahn and Deutsche Bank, as well as the social partners and the employee representatives in the supervisory board, saying, "The take-over negotiations were constructive and fair." He announced his intention to tap into the synergies resulting from the integration of the two companies in the near future. Even before the share acquisition, Vodafone and Arcor had merged their core network and Vodafone was providing customer support to Arcor customers. Vodafone is therefore evolving from a mobile communications provider into an integrated communications group.
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Vodafone Germany is one of the largest and most modern telecommunications providers in Europe. It realises turnover of more than EUR 10 billion and has 15,000 employees. In conjunction with its full subsidiary Arcor AG & Co KG, Vodafone Germany is an integrated technology and service provider with a portfolio including mobile communications, fixed network telephony, internet and broadband data services for business and private customers. Continuous development, numerous patents and investments in new products, services and the modern network have made Vodafone an innovation leader in the German telecommunications market. Vodafone Deutschland is headquartered in Düsseldorf and Arcor in Eschborn near Frankfurt. Vodafone and Arcor are committed to CSR and they also support numerous projects through the German Vodafone Foundation.
The companies are part of the Vodafone Group. Visit the websites at www.vodafone.de und www.arcor.de for further information.