Vodafone Group, one of the UK's largest telecommunications company plans to invest £20 million sterling in Northern Ireland in a major expansion of its interest in the market.
The creation of Vodafone (NI) results from Vodafone's decision to increase its holding in Vodac (Ulster) from 51 per cent to 100 per cent and rename the company. Vodafone Group has bought the 49 per cent shareholding in Vodac (Ulster) of Mr Byrom Bramwell, who has been appointed general manager of Vodafone (NI).
It is not known how much it cost Vodafone Group to buy Mr Bramwell's 49 per cent stake, but the price is included as part of the £20 million investment.
The investment will also finance the opening of nine Vodafone retail outlets in Northern Ireland and an expanded Vodafone customer care team, with a locally-based billing centre. Vodafone (NI) will now employ 60 people in Northern Ireland.
Vodafone has been involved in the mobile phone market in Northern Ireland since 1985, when its launched the UK's first cellular network. The plans for new investment coincide with a separate announcement of the completion of Vodafone's network in Northern Ireland.
"Another 33 cells will be installed over the next three months, completing the project started in May 1996 and further improving coverage to customers," said a statement.
The mobile phone market in Northern Ireland is quite open, with only 8 per cent penetration at present. The three main companies in the market are Vodafone (NI), Cellnet and Orange; Vodafone claims it will have 30 per cent of the market in 2007.
