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Buy-Out of Minority Shareholders in Vodafone AG.

LONDON -- Vodafone Group Plc announces that its subsidiary, Vodafone Deutschland GmbH, intends to buy-out the outstanding minority shareholders in Vodafone AG (formerly Mannesmann AG). Vodafone Deutschland GmbH will agree to pay outstanding minority shareholders euro 217.91 per Vodafone AG share, which includes a compensation payment of euro 14.71 in respect of guaranteed dividends arising from the domination agreement for the period from 1 January 2001 to 31 March 2002. The Vodafone Group already owns more than 99.6% of the share capital of Vodafone AG and the cost of this transaction is expected to be approximately euro 430 million. The buy- out requires the approval of shareholders at the Extraordinary General Meeting of Vodafone AG on 11 June 2002 and the Supervisory Board of Vodafone Deutschland GmbH. It also requires entry into the Commercial Register before it becomes legally effective, which is expected to be on or around 11 July 2002.

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Contact: Tim Brown, Group Corporate Affairs Director or Melissa Stimpson, Head of Group Investor Relations, or Bobby Leach, Head of Group Financial Media Relations, or Darren Jones, Senior Investor Relations Manager of Vodafone Group Plc, +44-0-1635-673310; or Lulu Bridges or John West of Tavistock Communications, +44-0-20-7600-2288
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Comment:Buy-Out of Minority Shareholders in Vodafone AG.
Publication:PR Newswire
Geographic Code:4EUUK
Date:Apr 22, 2002
Words:211
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