Vodafone Group will acquire Macintosh Retail Group NV’s 210 BelCompany mobile phone stores in the Netherlands for 120 million euros (about $171 million). Local Vodafone branch is the second-largest operator, operating 86 stores in the country.
At present Dutch market is pretty saturated, with carrier shifting strategy from acquiring new subscribers toward retaining existing ones. Unsurprisingly, this situation is less profitable for phone shops like the ones BelCompany operates.
Big Red’s offer is subject to approvals from the works councils of both companies and the Netherlands Competition Authority. The deal will most likely be completed “in a few months,” producing “a net transaction result” of 85 to 90 million euros.
[Via: Bloomberg]