Uncertainties over the Effects of U.K’s Exit from EU is making Businesses Think about Relocating Headquarters
Several businesses headquartered in the U.K are rethinking whether to exit the country which has been their home for a while. Some of them had earlier warned if U.K leaves the E.U they might consider relocating, finding another home for themselves.
After the 'Brexit' vote and U.K's decision to leave the bloc, attention is now turning to the deal that the nation must negotiate with the European Union to permit it to continue with the benefits it got from free trade across the bloc.
Vodafone Group PLC, the second biggest mobile carrier by number of subscribers in the world only after China Mobile Ltd., said it is rethinking on the lines whether it would keep its global headquarters in the UK in the long run or not.
With uncertainties over the time period and how U.K. would disentangled itself from the EU after the country voted to break away from the last week, the company is mulling over whether it will be beneficial to carry on having its headquarters in the country.
In a statement on Tuesday, Vodafone said, the company has gained a number of benefits through the U.K.'s membership of EU which includes free movement of people across the bloc and benefits of one legal framework all around Europe.
With uncertainties and changes looming large, the company said it is not possible right now to estimate how exactly the positive points of EU membership will be affected when finally U.K. leaves the EU.
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