Vodafone to take €1B hit from Drahi OXG deal
Vodafone will not receive over €1.1 billion in deferred payments from the German broadband project OXG: partner Patrick Drahi sold his stake to Societe Generale, and the new buyer is not bound by previous obligations. OXG was to cover 7 million homes by 2029 but has only connected 1 million so far.
- Vodafone to lose €487M and €595M in deferred payments from Geodesia Holding
- Societe Generale bought Drahi's stake in OXG, removing payment obligations
- OXG planned to spend €7B to connect 7M homes by 2029
- OXG network currently covers only 1M homes vs target 1.5M
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