Vodafone (Buy, 120p, +26%) Safaricom buyout: More FCF accretive than one might think
Vodafone and Vodacom have announced today that they will be taking control of Safaricom. Given the structure of the deal with Kenyan Government involving pre-paying dividends, we think the deal could offer better than expected accretion to Vodafone’s reported FCF for limited capital outflow.
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