UK-based telecommunications giant Vodafone is reportedly reaching into the automotive services market with its latest acquisition.
According to reports, Vodafone inked a nearly $200 million deal to acquire Italy’s Cobra Automotive Technologies, a solutions firm servicing the automotive and insurance markets, reports say. The transaction will involve a $101 million sale of the shares of Cobra’s current majority stakeholder, Intek Group, which currently owns 51.4 percent of the Italian company.
The transaction will expand the already successful telco conglomerate into servicing automotive customers; reports say Cobra operates across the EU, US, Asia and parts of South America, which will give Vodafone access to new markets.
The companies expect to finalize the deal in the third quarter of this financial year, though the merger remains subject to regulatory approval.
Full content: Binary Tribune
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Apple Rejects Spotify’s Updated App Over In-App Pricing Disclosure
Apr 25, 2024 by
CPI
FCC Set to Reinstate Net Neutrality Rules Today
Apr 25, 2024 by
CPI
Chamber of Commerce Sues to Overturn FTC Non-Compete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 2024 by
CPI
Amazon’s Investment in Anthropic Faces Antitrust Scrutiny
Apr 24, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI