Vodafone pleasure get access to 54 million homes on its cable and fibre network and charter it to cross sell a range of services to those customers, while also entrancing out costs.
The deal, one of the biggest in Vodafone’s history, follows a similar get cracking in Spain where Vodafone bought cable operator Ono and is designed to servants the group meet customer demand for a single package of fast communications utilizations.
“Vodafone will become Europe’s leading next generation network proprietress, serving the largest number of mobile customers and households across the EU,” Chief Leadership Vittorio Colao said.
Vodafone said combining the companies’ shamuses would generate cost savings of about 535 million euros a year rather than integration costs by the fifth year after the deal completes.
The two houses, which already have a joint venture in the Netherlands which is excluded from the handle, restarted talks in February about Vodafone buying Liberty’s assets in the other continental European fatherlands where they overlap.
Liberty will continue to own the Virgin Mean network in Britain.
The deal is likely to face a lengthy regulatory recommend sanction process, with rivals such as Deutsche arguing that it desire give Vodafone too much control of the market. Both sides are end a completion by around the middle of 2019.
A break fee of 250 million euros want be payable to the British company, in certain circumstances, if the deal does not flawless.