Vodafone to buy Italy's Cobra Automotive
AFP - [email protected]
Published: 16 Jun, 2014 CET.
Updated: Mon 16 Jun 2014 09:33 CET
British mobile phone giant Vodafone said on Monday it planned to buy Italian firm Cobra Automotive Technologies for €145 million ($196 million).
Vodafone said in a statement that it will launch an offer of €1.49 per share in cash in the coming weeks, valuing the group at the equivalent of £115 million (€144 million).
Cobra Automotive, which is based in Italy and listed on the Milan stock exchange, provides vehicle manufacturers, dealerships and customers with a range of products and services, including telematics, usage-based insurance, and vehicle tracking.
It has operations in Brazil, Britain, China, France, Germany, Italy, Japan, South Korea, Spain and Switzerland.
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Vodafone said in a statement that it will launch an offer of €1.49 per share in cash in the coming weeks, valuing the group at the equivalent of £115 million (€144 million).
Cobra Automotive, which is based in Italy and listed on the Milan stock exchange, provides vehicle manufacturers, dealerships and customers with a range of products and services, including telematics, usage-based insurance, and vehicle tracking.
It has operations in Brazil, Britain, China, France, Germany, Italy, Japan, South Korea, Spain and Switzerland.
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