Vodafone Group announced that it has been notified that Acciona, S.A. has exercised its put option over the 6.2% stake in Airtel Movil, S.A. ("Vodafone Spain") owned by Acciona and Tibest Cuatro, S.A. under the terms of an agreement originally made in January 2000. Vodafone, through its subsidiary Vodafone European Investments, will acquire this stake for approximately EUR 2,018 million in cash and will increase its ownership in Vodafone Spain to 100%. The transaction is expected to complete on 27 January 2003.
