Trending: Vodafone's Spanish Unit Sale Gets Muted Response from Investors

1336 GMT - Vodafone Group is among the most mentioned companies across news items over the past six hours, according to Factiva data, after the company announced the sale of its Spanish unit for around 5 billion euros ($5.31 billion), which received a muted response from investors. Vodafone's sale of its Spanish unit represents a full exit from a long-time challenging market but it isn't huge in the overall context for the group, Berenberg analyst Carl Murdock-Smith wrote in a note. AJ Bell's investment director Russ Mould said that Vodafone needed to be more imaginative in reviving its fortunes. He added that the company still needs to simplify its business, having suffered from being in too many markets with too little resource. Barclays analysts Maurice Patrick and Mathieu Robilliard said that the deal raised dividend questions, noting that the group said it would revisit its capital allocation policy in May on the back of a sale. Shares are currently down 1.1% at 75.87 pence. Dow Jones & Co. owns Factiva. ([e-mail].)

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October 31, 2023 09:52 ET (13:52 GMT)

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