OREANDA-NEWS. August 11, 2014. Vodafone confirms that its voluntary tender offer (the “Offer”) for security and telematics provider Cobra Automotive Technologies S.p.A. (“Cobra”) has become wholly unconditional. The Offer will settle.

The total consideration for the entire issued share capital of Cobra is EUR145 million.

Vodafone will purchase more than 95% of Cobra’s share capital through the Offer and will then start proceedings to purchase the remaining shares. This will result in Cobra becoming a 100% owned subsidiary of Vodafone and Cobra will also be de-listed from the Italian Stock Exchange (Borsa Italiana). The purchase of remaining shares and de-listing of Cobra are expected to occur on 14 August 2014.