Societe Generale Takes Major Stake in Vodafone's German JV OXG
Dow Jones09-01 15:07
Vodafone Group said French bank Societe Generale agreed to take a major stake in its German fiber joint venture, OXG, securing a new shareholder and funding.
The U.K. telecommunications company said Tuesday that Societe Generale agreed to acquire a 50% stake in its German joint venture from financial holding company Geodesia Holding.
Geodesia Holding is a subsidiary of billionaire Patrick Drahi's Altice Group.
The transaction--which remains subject to regulatory approvals--secures a committed funding partner and supports the expansion of its fiber network in Germany, Vodafone said.
The company didn't provide any financial details.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments