Vodafone: T-Mobile UK sale is not imminent
A Sale of Deutsche Telekom’s T-Mobile UK subsidiary to Vodafone is not imminent, Vodafone said yesterday.
At a gloomy annual meeting, overshadowed by economic and performance concerns, Vodafone chairman Sir John Bond said he could not comment further on T-Mobile UK. But he said he did not think the sale of Britain’s second-smallest mobile operator was underway.
Deutsche Telekom says it is open to considering options for T-Mobile UK, which has struggled in the downturn. It recently installed Richard Moat, a former Orange manager and turnaround expert, as managing director of its British operations.
Aside from the comments on T-Mobile, the annual meeting was dominated by the tough economic conditions and Vodafone’s share price performance in recent years. Chief executive Vittorio Colao warned economic challenges would continue.