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Vodafone Group plc - Company Report
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Company Reports are concise reports that provide a review of the company's activities, corporate strategy and recent developments.
Vodafone Group is the world's leading mobile telecommunications company with equity interests in 27 countries at the end of September 2006, which give it a significant presence in Europe, the Middle East, Africa, Asia Pacific, and the US. The Group also has arrangements to market certain of its services in additional territories, through "Partner Network" agreements, without the need for equity investment. As of September 30, 2006, the Partner Network arrangements extended to a further 33 countries. The Group provides a wide range of voice and data mobile telecommunications services, including text messages (SMS), picture messages (MMS), and other data services. The Group also has a controlling interest in a non-mobile telecommunications business in Germany. At September 30, 2006, based on the registered customers of mobile telecommunications ventures in which it had ownership interests at that date, the Group had approximately 191.6 million customers, calculated on a proportionate basis in accordance with the Group's percentage interest in these ventures, and 577.4 million registered venture customers. The Group's mobile services are currently offered over a GSM network, on which a GPRS service is also provided and, in certain operations, over a W-CDMA 3G network. Where licences have been issued, the Group has secured 3G licences in all jurisdictions in which it operates through its subsidiary undertakings and continues to roll out mobile 3G network infrastructure. Vodafone offered 3G services in 12 of its controlled operations at September 30, 2006. Vodafone was born out of Racal Electronics Plc, which received a GSM licence in the UK in 1983. Vodafone demerged from Racal and was formed as an independent entity in September 1991. Vodafone Group has grown to its current size and status through acquiring operators and licences worldwide. Two major mergers have been central to the company's growth. Firstly, the merger with US-based AirTouch Communications in June 1999, and secondly, with German telecommunications company Mannesmann in April 2000. Vodafone's ordinary shares are listed on the London Stock Exchange and its ADSs are listed on the New York Stock Exchange (NYSE). The company had a total market capitalisation of approximately UK£72 billion at May 26, 2006. At March 31, 2006, approximately 52.68% of the company’s shares were held in the UK, 32.04% in North America, 12.86% in Europe (excluding the UK) and 2.42% in the Rest of the World. As of May 26, 2006, The Bank of New York, as custodian of the Vodafone's American depository receipt (ADR) programme, held approximately 12.8% of the company's ordinary shares, followed by The Capital Group Companies Inc with 5.56%, Barclays PLC 3.92%, and Legal & General Investment Management 3.67%.
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