LONDON -(Dow Jones)- Vodafone Group said Thursday that, further to its announcement on March 17, it has completed the sale of its 97.68% interest in Vodafone Japan to a wholly-owned subsidiary of SoftBank Corporation.
The sale values Vodafone Japan at an Enterprise Value of Y1.8 tln (GBP8.9bn).
Vodafone will make a special distribution of GBP6bn, equivalent to around 10 pence per share, to shareholders shortly after its AGM to be held on July 25.
Details of the precise method of distribution will be released with the preliminary results in May, Vodafone said.
Arun Sarin, chief executive, commented: "This transaction enhances Vodafone's adjusted earnings per share and facilitates the return of approximately GBP6 billion to our shareholders. We maintain a strong relationship with SoftBank and we look forward to continuing to benefit from insights in the important Japanese mobile market."
(END) Dow Jones Newswires "
Posted to the site on 27th April 2006
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