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Vodafone to Buy Stake in Cegetel
Posted: 16-Oct-2002 [Source: AP via Yahoo]

[Vodafone to buy Cegetel shares from BT and SBC.]

London -- "Vodafone PLC said Wednesday it has agreed to buy the shares of French telecommunications group Cegetel that are owned by BT Group PLC and U.S.-based SBC Communications Inc. for 6.3 billion euros ($6.18 billion).

"The proposed deal would make Britain-based Vodafone the owner of a 56 percent stake in Cegetel and allow it to extend its presence across Europe.

"Vodafone said that if the deals go through, it will use shareholdings to take control of France's second largest mobile operator, SFR, which is 80 percent owned by Cegetel. Vodafone already holds 20 percent of SFR."

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