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Vodafone Telecel sells 80% of TelecelOnline

Vodafone Telecel has today announced the sale of its stake of 80% in TelecelOnline to the Vizzavi Europe Group. The company will now be owned 20% by Vodafone Telecel and 80% by the Vizzavi Europe Group, a joint venture between the Vodafone Group and Vivendi Universal.

The sale price for the shares, representing 80% of the share capital of TelecelOnline, has been agreed at 32.08 million euros, plus an additional amount to correspond to TelecelOnline’s business activity for the period between 1 June and 31 October of this year.

Vizzavi currently operates in England, France, Germany, Holland, Italy, Greece, Spain and now Portugal. The Vizzavi portal aims to become the number one multi-access portal in Europe by excelling in mobile portal services and leading shared and entertainment content.

The experience of Netc in the Portuguese market and its focus on mobile access to content, allied to the close link with Vodafone Telecel, will enable the Vizzavi portal to provide content and services matched to the latest developments in new technology. The parties are also considering further co-operation agreements, particularly in the area of marketing and use of shared brands (Co-Branding Agreements).