VALLETTA, Dec. 19 (Xinhua) -- Vodafone Group Plc announced on Thursday that it has entered into an agreement to sell off Vodafone Malta (VFML) to Monaco Telecom SAM.
According to a statement released by Vodafone Group, Monaco Telecom has agreed to acquire VFML for a cash consideration equivalent to an Enterprise Value of 250 million euros (278 million U.S. dollars).
Following completion, VFML will continue to operate under the Vodafone brand for a transitional period.
The company said that the transaction is conditional on regulatory approval from the Malta Communications Authority, with completion expected in the first quarter of the 2020 calendar year.
For the financial year ended March 31, Vodafone Malta generated 82 million euros of revenue, 32 million euros of earnings before interest, tax, depreciation and amortization (EBITDA) and 19 million euros of operating free cash flow (OpFCF).