Vodafone Group has announced that it intends to raise €4 billion through the issuance of Mandatory Convertible Bonds, according to a report in the Financial Times…
Vodafone Group has announced that it intends to raise €4 billion through the issuance of Mandatory Convertible Bonds, according to a report in the Financial Times.
Vodafone will use the funds to finance the previously announced acquisition of Liberty Global's Eastern European assets.
Vodafone will acquire Liberty Global's mobile and fixed line operations in Germany, The Czech Republic, Romania and Hungary.
Vodafone will raise the cash by issuing two separate bonds in sterling, with the bonds maturing no later than March 2021 and March 2022.
In December last year, the European Commission launched an investigation into the proposed acquisition, amid concerns that the deal could reduce competition in both Germany and The Czech Republic.
In Germany, the Commission said that the merger could reduce competition in areas where Vodafone and UnityMedia (Liberty Global's subsidiary in Germany) currently compete.
The investigation is expected to last 90 working days, with the Commission set to announce its decision on the 2nd May 2019.
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