Mergers and Acquistions News
Categories: Telecoms
January 30th 2009, 13:07PM
Vodafone has announced that its offer for Wayfinder Systems has been accepted by the shareholders.
The telecoms giant now owns the majority of the Sweden-based firm, with a 98.13 per cent stake, or 19,562,032 shares.
On Wednesday, Vodafone announced a deal for 16,295,612 shares, or 81.75 per cent, adding to the 3,266,420 already owned by the telecoms firm, to be completed on or around January 30th.
A statement issued by the company read: "Vodafone may acquire further shares in Wayfinder in the open market or in private transactions".
Wayfinder is a location-based specialist, allowing operators to push services to customers based on where they are placed.
This week Vodafone also signed a partner market agreement with United Arab Emirates (UAE) telecoms firm du - the first such partnership with a Middle Eastern firm.
In a strategic link up, du gets access to Vodafone products, while Vodafone customers can utilise du's 3G network.
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