3rd Mar 2020 11:33
(Alliance News) - Vodafone Group PLC on Tuesday said it has extended its partnership agreement with Vodafone Ukraine.
The stock was 1.3% higher in London in morning trade at 135.26 pence a share.
The FTSE 100-listed telecommunications firm said the partnership will continue the Vodafone brand and customers will have a direct access to Vodafone's central procurement and roaming services.
Vodafone explained that the new agreement looks to deliver further synergies, with the two companies collaborating on a range of consumer and business products. Vodafone said it will also provide strategic and operational network and IT support, and there is a potential for further future collaboration on the digital reform of public services and smart city solutions in Ukraine.
Vodafone Partner Markets Chief Executive Diego Massidda said: "We have enjoyed a close relationship with Vodafone Ukraine for the last five years, and we are delighted that this will continue under their new owners."
"As we continue to develop and expand the country's digital expertise, we are confident that our collaboration will help us reach our full potential," added Vodafone Ukraine's Chief Executive Olga Ustynova.
Earlier on Tuesday, Vodafone said it has agreed to become one of the lead investors in a business which aims to create the first space-based mobile broadband network.
Alongside Japanese commerce company Rakuten Inc, Vodafone will invest in Avellan Space Technology & Science's SpaceMobile venture. The investment from Vodafone and Rakuten means that Avellan has now secured USD128 million for the project.
SpaceMobile aims to "extend mobile coverage to more people and devices across the planet, using the first mobile broadband network that will be broadcast from space", Vodafone explained.
By Eric Cunha; [email protected]; Updated by Evelina Grecenko; [email protected]
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