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May 2, 1988

RACAL TO FLOAT MINORITY STAKE IN VODAFONE; SHOCK WAVES

By CBR Staff Writer

The fallout of Racal Electronics’ announcement that it would float a minority stake in its Vodafone and related businesses generated shock waves as far away as New York: Millicom Inc, which traded its 15% of Vodafone for shares in Racal about a year ago, and now holds about 5% of the Racal equity – amounting to about 90% of Millicom’s assets, saw its shares leap $4.50 to $18.75.

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