Vodafone Hosts Enterprise Open Office Event
Vodafone Group Plc (“Vodafone”) will today host an Open Office event focusing on its Enterprise business and the core segments within. This will include a review of the Cable & Wireless Worldwide (“CWW”) opportunities and integration plan, following completion of the acquisition of CWW by Vodafone in July 2012.
The global enterprise market offers attractive growth opportunities and remains a key strategic priority for Vodafone. We are seeing a number of trends in the enterprise market which play to our strengths – including the increasing focus on employee mobility, the move towards converged services, companies’ desire to manage costs and consolidate supplier bases, system automation and an increasing focus on security.
With respect to the CWW acquisition, we expect to incur cumulative integration costs of approximately £500 million by March 2016. This is expected to deliver cash flow synergies of £150 million to £200 million per annum by March 2016, resulting in operating free cash flow for the Group in that year of £250 million to £300 million from the acquisition. A high proportion of the targeted synergies will come from clearly quantifiable cost savings and network integration benefits. Our immediate goal is to stabilise the CWW business, with full integration expected during the year to March 2016.
The presentation will commence at 0900 BST and can be accessed via webcast at http://www.vodafone.com/investor . Presentation materials will be available from this site at 0830 BST. The presentation can also be accessed via conference call on:
020 3426 2845 (Toll)
0808 237 0038 (UK toll free)
A replay of the conference call will be available on:
020 3426 2807 (Toll)
0808 237 0026 (UK toll free)
+1 866 535 8030 (US toll free)
For further information:
+44 (0) 7919 990230
+44 (0) 1635 664444
Notes for Editors
Vodafone is one of the world's largest mobile communications companies by revenue with approximately 406 million customers in its controlled and jointly controlled markets as at 30 June 2012. Vodafone currently has equity interests in over 30 countries across five continents and more than 50 partner networks worldwide. For more information, please visit www.vodafone.com.
This press release contains forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995 which are subject to risks and uncertainties because they relate to future events. These forward-looking statements include, without limitation, statements in relation to the Group’s future performance, in particular, with respect to the CWW acquisition. A review of the reasons why actual results and developments may differ materially from the expectations disclosed or implied within forward-looking statements can be found by referring to the information contained under the heading “Forward-looking statements” and "Principal risk factors and uncertainties" in Vodafone Group Plc's Annual Report for the year ended 31 March 2012. The Annual Report can be found on the Group’s website (www.vodafone.com/investor). All subsequent written or oral forward-looking statements attributable to the Company or any member of the Group or any persons acting on their behalf are expressly qualified in their entirety by the factors referred to above. No assurances can be given that the forward-looking statements in this presentation will be realised. Except as otherwise stated herein and as may be required to comply with applicable law and regulations, Vodafone does not intend to update these forward-looking statements and does not undertake any obligation to do so.