Vodafone closes in on Project
13 April 2012
VODAFONE is poised to spend £155 million to acquire Project Telecom. The mobile phones giant is understood to be in the final stages of a deal with Nottinghamshire-based Project, whose investors would receive 70p a share for their stakes.
Project Telecom tailors phone packages for corporate customers, many of them existing Vodafone customers.
By buying Project Telecom, Vodafone would effectively cut out one of their middle men. Project Telecom shares rose 11.9% last week, closing at 65 1/2p on Friday.
