Vodafone to sell Maltese business for €250m

Vodafone to sell Maltese business for €250m

19 December 2019 | Natalie Bannerman

Cover

Vodafone Group has entered into an agreement to sell Vodafone Malta to Monaco Telecom for an enterprise value of €250 million.

Monaco Telecom is the incumbent operator in Monaco offering fixed, TV and mobile services.

the transaction price is equivalent to fy19 multiples of 7.8x earnings before interest, tax, depreciation and amortisation (EBITDA) and 13.1 operating free cash flow (OpFCF).

Once completed, Vodafone Malta will continue to operate under the Vodafone brand for a undisclosed transitional period.

Due to close in Q1 of 2020, the deal is conditional subject to regulatory approval from the Malta Communications Authority.

In related news, Vodafone Ireland launched 5G roaming for its customers travelling across Europe. Effective immediately Vodafone Ireland customers will be able to access 5G roaming in 100 towns and cities across Germany, Italy, Spain and the UK that includes London, Madrid, Munich and Rome.