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vodafone Group plc sold the headquarters it owned for decades newbury, englandAnd will rent back more than half of the site’s premises as it scales up and cuts costs.
Icon Capital agreed to buy a total of seven buildings known as “The Connection” on behalf of Al Jazeera Capital to an undisclosed figure, it said in a statement on Tuesday.
Vodafone will vacate the three buildings, which Icahn said will be modernized as a commercial complex. The site has approximately 486,810 square feet of office space on 38 acres of grounds. The sale comes amid major turmoil for Vodafone, which has had operations in Newbury, about 97km west of London, since its inception in the mid-1980s. Its share price is at a nearly 25-year low, and the board abruptly ousted the CEO nick reed In December.
The job cuts are planned as the company tries to improve operations and strikes deals to consolidate in key markets, including Britain,
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