Vodafone CEO Expresses Willingness to Consider New Acquisitions

12:05 am on November 17, 2006 | Category: Business, Corporate, Wireless

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UK-based wireless operator, Vodafone, surprised its investors this week by expressing interest in the possibility of acquiring its rival, “3.”

Vodafone CEO, Arun Sarin, who is normally known for his cautious approach to acquisitions, said that if any of 3’s European assets were to come up for sale, “we would look at them.”

Mr. Sarin also noted that the wireless giant was actively on the lookout for potential acquisitions in emerging markets, including Eastern Europe, Asia, and South Africa. He was sure to emphasize, however, that companies would need to meet strict financial criteria before qualifying as an acquisition target.

Vodafone’s newfound willingness to become a market consolidator comes on the heels of better-than-expected financial results for the six months ending on September 30. Excluding a sizable writedown of its German and Italian assets, the carrier reported an impressive pre-tax profit of £4.8 billion for the half-year period.

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    Published by TeleClick Enterprises
    Edited by Jeremy Maddock