Vodafone (LON:VOD) has entered into an alliance with Japan’s SoftBank, the blue-chip telco has said. The alliance aims to enhance commercial and operational support for the FTSE 100 group’s multinational enterprise customers operating in Japan.
Vodafone’s share price has been little changed in London this morning, having added 0.07 percent to 225.70p as of 09:14 GMT, marginally underperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.23 percent higher at 7,356.16 points. The telco’s shares have added more than 18 percent to their value this year, as compared with about a nine-percent rise in the Footsie.
Alliance with SoftBank
Vodafone announced in a statement this morning that it had entered into a strategic alliance in mobile services for enterprise customers with SoftBank. The alliance is intended to enhance commercial and operational support for the UK telco’s multinational enterprise customers operating in Japan.
“This strategic alliance brings together two of the world’s leading communications companies to provide enterprise customers with the most innovative and responsive service and support in Japan,” Vodafone Partner Markets Chief Executive Diego Massidda commented in the statement.
Vodafone used to operate a network in Japan, but sold the business to SoftBank back in 2006.
The Financial Times noted in its coverage of the news that the partnership is similar to dozens of other low-risk deals Vodafone has across the world with other telecoms companies to use their networks to supply voice and data services to multinational customers. The alliance comes after the telco recently struck similar deals in Iran with HiWEB and the US with T-Mobile USA.
Today’s news comes after reports suggested that the FTSE 100 group could replace PwC as its auditor due to legal action over the collapse of the retailer Phones 4U.