BY LUCY CAULKETT
Vodaphone has threatened to move it’s headquarters in the wake of Brexit. the telecoms communications company said the outcome of Britain’s negotiations to leave the U.K will determine whether it decides to move it’s headquarters out of the country.
The company emphasized the importance of the E.U’s free movement of capital and goods, stating that it had helped drive it’s growth. The company emphasized that 55 percent of group profits had come from its European operations, it’s share from the U.K constituting just 11 percent.
Exactly why Vodaphone is making its noisy threat is unclear. The U.k’s negotiations with the E.U in the wake if Brexit will take no consideration of this company’s reaction one way or another.
Britain is aware of the importance of negotiating the best deal possible, without the noisy threats of business organisations. Vodaphone’s plans in relation to relocation will have no bearing on the efforts and outcome of Britain’s negotiations with Brussels.
Britain has made its decision on the E.U, and I’m afraid all organisations have to work around that, or take whatever steps it sees fit. The last thing we need to hear is noisy threats even by organisations who are intent on carrying them out.
All major media organisations were emailed by the company to release all this information about their plans. Vodaphone said it will strengthen its regulatory and and public policy to “ensure the groups substantial businesses within the European Union continue to be represented appropriately”.
Vodaphone is the 7th largest company listed on the FTSE 100 with operations in 26 countries with 108,000 staff outside the U.K. Ideally, the U.K will not want the company to relocate it’s headquarters outside the U.K.
However, come what may, Britain will cope. There will always be a number of countries willing to trade with Britain, and the E.U will come to some reasonable agreement with Britain.
Pic By Source, Fair use
