Vodafone (VOD) could miss out on up to 1.1 billion euros ($1.27 billion) in potential earnings after Patrick Drahi agreed to sell his 50% stake in German broadband joint venture OXG to Societe Generale, the Financial Times reported Wednesday.

The FT reported that Vodafone had been due to receive 487 million euros in deferred payments and potentially another 595 million euros in earnout payments from Drahi's Geodesia Holding.

Vodafone responded to an MT Newswires email, saying the 487 million euros in deferred payments would have started after OXG surpassed 1.5 million homes, with OXG recently passing 1 million homes. Altice has also invested about 100 million euros in equity and paid 120 million euros to Vodafone, it said.

Vodafone added that OXG has good momentum and is the second-fastest fiber builder in Germany, saying that it plans to disclose further details of the agreement in its financial statements. The transaction has not yet been completed and is expected to close by the end of 2026, it added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)