NEWBURY (dpa-AFX) - British telecom major Vodafone Group Plc (VOD.L, VOD) announced Thursday that its unit Vodafone Europe B.V. has entered into an agreement to sell Vodafone Malta or VFML to Monaco Telecom SAM. The sale is for a cash consideration equivalent to an enterprise value of 250 million euros.
Following completion of the sale, VFML will continue to operate under the Vodafone brand for a transitional period.
The transaction is conditional on regulatory approval from the Malta Communications Authority. The completion of the sale is expected in the first quarter of the 2020 calendar year.
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