Slaughter and May is advising Vodafone Group Plc (“Vodafone”) on the entry into of binding agreements with Zegona Communications plc (“Zegona”) in relation to the sale of Vodafone Holdings Europe S.L.U. (“Vodafone Spain”). On completion, Vodafone’s consideration will comprise at least €4.1 billion in cash and up to €0.9 billion in the form of redeemable preference shares which redeem, for an amount comprising the subscription price and accrued preferential dividend, no later than 6 years after closing. We are also advising in relation to transitional and long-term arrangements for services from Vodafone including access to procurement, IoT, roaming and carrier services as well as a brand licence agreement, which permits the use of the Vodafone brand in Spain for up to 10 years post-completion.
Joe Court / Trainee, Henry Day / Trainee
Sam Edwards / Trainee