Vodafone’s $5.1 billion acquisition of Turkish mobile operator Telsim is under controversy as Vodafone is accused of having overpaid. However, Vodafone predicted further growth for its Turkish mobile phone business. According to the company, the initial capital expenditure of Telsim’s network infrastructure has reduced from $1.2 billion to about $850 million. Vodafone plans to fund this expenditure from its operating cash flows.
Consequently, Vodafone has predicted that adjusted group earnings per share would be held back for just two years, instead of three, as previously forecasted.
