LONDON, June 29 (UPI) -- Vodafone, the British telecommunications giant, is considering moving its London headquarters outside of the United Kingdom depending on the results of Brexit negotiations.
Vodafone, the world's second-largest telecom company, said it was important to retain access to the European Union's free "movement of people, capital and goods." Last week, a referendum in the United Kingdom resulted in a decision to leave the EU, but negotiations between the British government about how the separation would work are underway.
"It is ... not yet possible to draw any firm conclusions regarding the long-term location for the headquarters," the company said in a statement. "We will continue to evaluate the situation and will take whatever decisions are appropriate in the interests of our customers, shareholders and employees."
Vodafone employs about 13,000 people in the United Kingdom. About 55 percent of Vodafone's profits in the last financial year came from European operations. About 11 percent of profits came from the United Kingdom.
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The access the EU provided is "integral to the operation of any pan-European business," Vodafone added. "It remains unclear at this point how many of those positive attributes will remain in place once the process of the U.K.'s exit from the European Union has been completed."
Uncertainty has defined the aftermath of the Brexit referendum. The British government must now establish new trade deals with European partners and determine the immigration status of EU migrants working in the United Kingdom.
On Tuesday, the EU and British Prime Minister David Cameron met for the first time following the U.K.'s surprise vote to leave the 28-nation bloc, mainly to address a rough time frame for London's departure.
