Business
VODAFONE AND e& FORM STRATEGIC RELATIONSHIP
VODAFONE AND e& FORM STRATEGIC RELATIONSHIP.
About this update from Vodafone Group Public Limited Company
[{"type":"text","content":"\n\n11 May 2023\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nVODAFONE AND e& FORM STRATEGIC RELATIONSHIP\nACROSS EUROPE, THE MIDDLE EAST AND AFRICA\nVodafone Group Plc (\"Vodafone\") and Emirates Telecommunications Group Company PJSC (\"e&\") today announced that they have agreed a strategic relationship that brings the two operators closer together in certain aspects of their businesses.\nAs part of this strategic relationship, Vodafone and e& have entered into a relationship agreement that establishes e& as a cornerstone shareholder of Vodafone (the \"Relationship Agreement\"). This is the next phase in a strategic relationship that began in May 2022, when e& made its original investment in Vodafone.\nThe strategic relationship also enables collaboration across a broad range of growth areas, as e& and Vodafone can benefit from each other's respective operational scale and complementary geographic footprint. The key areas of commercial collaboration that Vodafone and e& will initially pursue include:\n· In Enterprise, Vodafone and e& will explore jointly offering cross-border digital services and solutions to multi-national customers and public sector organisations. Services will include fixed and mobile connectivity, Mobile Private Networks, IoT, cybersecurity and cloud-based services. \n· In Procurement, Vodafone and e& will seek to share best practice and may adopt joint procurement.\n· In Carrier, Wholesale & Roaming, the two operators will work together to become the partner of choice in providing access to high-quality digital infrastructure.\n· In Technology, both teams will seek to work together on a technology roadmap, including the evolution and adoption of OpenRAN.\nUnder the terms of the Relationship Agreement, the Group Chief Executive Officer of e&, will join the Vodafone Board as a non-executive Director (the \"e& Nominee\"), for as long as e& maintains its current shareholding of 14.6%. e& will also have the ability to nominate a second non-executive Director (the \"Independent Nominee\"), independent of e&, if its shareholding exceeds 20% (subject to certain adjustments while regulatory approvals are outstanding). These appointments are subject to receipt by e& of...