Vodafone Group PLC Investor Update Call Transcript
Good morning, and thank you for joining us. Today, we have reached the final step of our portfolio rightsizing announced in May last year. We have agreed a full sale of Vodafone Italy for EUR 8 billion in upfront cash proceeds. Alongside the sale of Spain and our merger in the U.K. We have reshaped our European footprint, enabling us to focus on growing markets with strong positions and good local scale. Today, we are also announcing a new capital allocation framework which includes rebasing our dividend to EUR 0.045 from FY '25 onwards and a EUR 4 billion buyback program. Luka will outline this in more detail shortly.
In May last year, when I became CEO, I set out a new strategic road map to transform Vodafone. A key component of this road map was to rightsize our portfolio. So we can focus our time, effort and resources in growing markets where we can win and create value. We have now agreed transactions in all 3 markets where we needed to act and we have reshaped our European footprint. We will
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