Monaco Telecom has agreed to acquire VFML for a cash consideration equivalent to an Enterprise Value of €250 million, implying FY19 multiples of 7.8x EBITDA and 13.1x OpFCF2.
Following completion, VFML will continue to operate under the Vodafone brand for a transitional period.
The transaction is conditional on regulatory approval from the Malta Communications Authority, with completion expected in the first quarter of the 2020 calendar year.
1. The selling entity is Vodafone Europe B.V., a 100% owned indirect subsidiary of Vodafone Group Plc
2. Defined as EBITDA minus capex
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