2nd Aug 2023 12:21
(Alliance News) - Vodafone Group PLC on Wednesday said that Vodafone GmbH and 1&1 Mobilfunk GmbH have agreed a long-term national roaming partnership.
Vodafone will deliver 5G mobile coverage nationwide to 1&1's customers in Germany from the second half of 2024, by no later than October 1.
1&1 Mobilfunk is a subsidiary of 1&1 AG and an indirect subsidiary of United Internet AG.
Vodafone noted that it is a long-term commercial agreement of up to 18 years, with a base term of fiver years. Further, 1&1 wholesale unitary costs will be indexed to Vodafone's mobile network cost, to reflect the impact of inflation and technology evolution, providing long-term visibility to both parties.
The agreement is expected to be accretive to group cashflow from Vodafone's financial year ending March 31, 2026.
Vodafone shares were up 4.2% to 77.00 pence each in London on Wednesday around midday.
By Sophie Rose, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.