REG - Vodafone Group Plc - Vodafone reaches agreement with Vi on CLAM

VodafoneAnnouncement

Wed 13:30

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RNS Number : 3543N  Vodafone Group Plc  31 December 2025

31 DECEMBER 2025 | LONDON, UK

Vodafone reaches agreement with Vi on CLAM

 

Vodafone Group Plc ("Vodafone") announces that it has reached an agreement
with Vodafone Idea Limited ("Vi") in relation to the final amount payable
under the Contingent Liability Adjustment Mechanism ("CLAM"), which is due to
expire on 31 December 2025, as well as an agreement for Vi to settle
outstanding Vodafone Group service charges. This closes all material open
issues between Vodafone and Vi.

The CLAM was entered into at the time of the 2017 merger agreement between
Vodafone India and Idea Cellular and covers pre-merger contingent liabilities
in relation to legal, regulatory, tax and other matters of the two merging
parties. Under the CLAM, Vodafone's maximum exposure was capped at INR 83.69
billion (€793 million) at the time of the merger and taking into account
payments already made, the reduced exposure was capped at INR 63.94 billion
(€606 million).

As a result of this agreement:

·    Vodafone Group will fully settle the CLAM through: (i) a cash payment
of €219 million and (ii) setting aside 3,280 million of Vodafone Group's
shares in Vi for Vi's benefit. Vi will have the right to instruct Vodafone to
sell these shares, in one or more tranches, with any cash proceeds being
transferred to Vi.

·    This final settlement does not constitute any net cash payment by
Vodafone as Vi will settle €219 million of outstanding Vodafone Group
service charges.

Both the outstanding Vodafone Group service charges and Vodafone's investment
in Vi shares are carried at nil value in the Vodafone balance sheet.

·    Vodafone Group currently has a 16.07% shareholding in Vi and the
shares being set aside are equivalent to a 3.03% shareholding in Vi.

 

 ENDS 

Contact details

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 Vodafone.com/media/contact (http://vodafone.com/media/contact)   i (https://investors.vodafone.com) nvestors.vodafone.com

                                                                (https://investors.vodafone.com)
 GroupMedia@vodafone.com (mailto:GroupMedia@vodafone.com)

                                                                ir@vodafone.co.uk (mailto:ir@vodafone.co.uk)

About Vodafone Group
everyone.connected

Vodafone is a leading European and African telecoms company.

We serve over 360 million mobile and broadband customers, operating networks
in 15 countries with investments in a further five and partners in over 40
more. We have capacity on more than 70 subsea cable systems - the backbone of
the internet - and we are developing a new direct-to-mobile satellite
communications service to connect areas without coverage. Vodafone runs one of
the world's largest IoT platforms, with over 220 million IoT connections
globally, and we provide financial services to around 94 million customers
across seven African countries - managing more transactions than any other
provider.

From the seabed to the stars, Vodafone's purpose is to keep everyone
connected.

For more information, please visit www.vodafone.com
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