Vodafone 1999 Annual Report Download - page 5

Download and view the complete annual report

Please find page 5 of the 1999 Vodafone annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 77

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77

CEO's Statement
Chief Executive's Statement
Chris Gent, Chief Executive
The very strong overall progress shown in the last financial year
results from our determination to increase the rate of growth as we
fulfil our vision of mobile communications becoming the preferred
means of personal communication. We cut tariffs, stimulated usage
and increased distribution to ensure that penetration rates
accelerated. It is now clear that over half the population will have
adopted mobile telephony in most of our major markets by the end
of the year 2002.
Overall penetration rates for the services currently available are
eventually likely to exceed 65% of the population in most developed
countries. However, this year will see the launch of new services that will
further widen the appeal of mobile communications by embracing the
Internet. The launch of Vodafone Interactive will signal Vodafone’s
determination to be a world leader in the wireless information age that we
expect to develop over the next few years.
On 15 January 1999 it was announced that Vodafone and AirTouch had agreed to join forces to create the world’s largest
mobile telecommunications group. The merger with AirTouch will facilitate a major step in Vodafone’s declared strategy;
to extend the reach, range and penetration of mobile services to as many customers as possible, in as many geographical
territories throughout the world that can sustain viable and profitable operating environments.
Our transaction with AirTouch more than doubles our potential for growth in both conventional
cellular and in the new services which will mark the arrival of the wireless information age. The
enlarged Company will have access to 60 million customers, through ventures we invest in or
control. Last year, our combined customer base grew by over 65% and growth remains strong this
year. Vodafone AirTouch will have the scope and scale for substantial cost reductions but, above all,
will create an unparalleled platform for enhanced growth in what will be the unrivalled world leader in
mobile communications.
Planning is at an advanced stage for the full integration of the two businesses. We expect the transaction to close by the
end of June or in July. Vodafone AirTouch has the clear aim of becoming, over the next decade, one of the world’s largest
companies. The last year has been a dramatic one for Vodafone and we now believe that we are on the threshold of a
new and exciting stage in the development of one of the best business opportunities available in the world today.
Chris Gent
Chief Executive
http://www.vodafone.com/download/investor/reports/annual99/CEO_Statement.htm (1 of 2)30/03/2007 00:07:15