Gold Magazine September - October 2013, Issue 30 | Page 14

up front

Vodafone in
€99 billion

MEDOCHEMIE TO
REPRESENT CYPRUS
AT THE EUROPEAN
BUSINESS AWARDS

corporate

M

deal

V

odafone has sold its
45% stake in Verizon
Wireless to US telecoms group
Verizon Communications in one of the biggest deals in corporate
history. Vodafone will
receive €99 billion, of which €63 billion will
be returned to its shareholders. The company will also invest money in its business,
with funds earmarked for high speed mobile

phone networks. The company is launching a £6bn investment plan called Project
Spring, which will accelerate the introduction of 4G networks and increase investment in laying fibre optic cables, among
other things. By 2017 its main five European markets will have almost complete 4G
coverage thanks to this investment.
This is the third biggest corporate
transaction, behind Vodafone’s 1999 deal
to buy Germany’s Mannesmann and AOL’s
purchase of Time Warner in 2000.

FOREXTIME

launches

Chinese
website

F

orexTime Ltd has launch Y