Vodafone Share Discussion Threads

[spud] 01/7/2020 11:14

Manufacturing, healthcare and education poised for a 5G boost https://www.rcrwireless.com/20200630/5g/5g-could-add-almost-200-billion-uk-economy-10-years-vodafone A new report commissioned by Vodafone U.K. has found that upgrading to 5G could add as much as £158 billion ($194 billion) to the national economy over the next decade. Vodafone also noted that investment in 5G could lead to the creation of new jobs and business opportunities, as well as improve the provision of public services across the country. The report, dubbed “Levelling up: How 5G Can Boost Productivity across the U.K.,” authored by WPI Economics, also calls on the UK Government to create the policy, procurement and investment environment to support faster 5G rollout. Nick Jeffery, Vodafone UK CEO, said: “5G will play a vital role as the economy recovers from the COVID-19 pandemic. It is crucial to recognize the role that fast and reliable connectivity will play in unlocking the digital potential that exists in every nation and region across the UK. 5G will provide new and exciting opportunities for businesses of all shapes and sizes and across all sectors.” Matt Warman, digital infrastructure minister, said: “We are determined to deliver the benefits of faster and secure 5G technology for homes and businesses across the U.K. “Our ongoing work to remove the barriers to industry rollout has meant 5G networks have already been switched on in more than 70 towns and cities. We are also investing £200m in 5G trials to speed up deployment and boost the development of new applications so we can seize the social and economic opportunities of this revolutionary technology.” The report highlights that 5G private networks will enable manufacturers to increase efficiency, helping to revive manufacturing across the U.K. 5G will be essential to allowing secure and reliable remote access to public services, including patients accessing healthcare and pupils accessing education. It calculated the cumulative economic benefits to U.K. output stand at more than £38 billion in the five years to 2025, and at more than €120 billion from then to 2030. In the U.K., Vodafone’s 5G services are available in 44 locations including London, Birmingham, Belfast, Bristol, Cardiff, Edinburgh, Glasgow, Manchester, Leeds, Liverpool. U.K.-based Vodafone Group has already launched 5G services in 97 cities across eight European markets. Vodafone launched Spain’s first commercial 5G network in Madrid, Barcelona, Valencia, Seville, Malaga, Zaragoza, Bilbao, Vitoria, San Sebastian, La Coruna, Vigo, Gijon, Pamplona, Logrono and Santander in June 2019. In Germany, Vodafone’s 5G service is already live in 43 cities and towns including Cologne, Dusseldorf, Hamburg, Dortmund, Munich, Berlin, Bremen, Dresden, Darmstadt, Leipzig, and Frankfurt. In Italy, the technology is available in Milan, Turin, Bologna, Rome and Naples, while Vodafone Ireland offers 5G in Cork, Dublin, Galway, Limerick and Waterford. spud

[poikka] 01/7/2020 09:22

"Vodafone Idea on July 1 said its ability to continue as going concern is dependent on a positive outcome in the adjusted gross revenue (AGR) case. "We continue to actively engage with the Government to provide relief on various industry related concerns. Separately, the Telecom Regulatory Authority of India (TRAI) has initiated a consultation on floor pricing at the request of all the operators, through COAI," the telecom major said in a statement to stock exchanges. Also read: Vodafone Idea to divest stake in Indus Towers after Infratel merger Vodafone Idea said that it has already made payments of Rs 68.5 billion (Rs 6,850 crore) in three instalments during the quarter ended March 31, 2020 towards AGR dues. The Supreme Court will next hear the AGR case in the third week of July. The apex court had on June 11 said telecom companies cannot make staggered payments over 20 years without providing any security. The Supreme Court on June 18 asked telecom companies to provide their financial documents and gave the Department of Telecommunication (DoT) time until the third week of July to consider the proposals by the companies on making payment for the AGR dues."

[muscletrade] 01/7/2020 07:36

New Delhi: Vodafone Idea, the country's third largest telecom operator, on Wednesday reported a staggering net loss of Rs 73,878 crore in the financial year ended March 31, on account of provisions for the Supreme Court mandated statutory dues. That marked the highest ever net loss reported by an Indian firm. The firm - which has to pay Rs 51,400 crore dues after the top court ordered the non-telecom revenues to be included in calculating statutory dues - said the liability has cast a "significant doubt on the company's ability to continue as a going concern". Vodafone Idea's net loss widened to Rs 11,643.5 crore in the January-March period of financial year 2019-20, from Rs 6,438.8 crore in the previous quarter, and Rs 4,881.9 crore in the quarter ended March 31, 2019, the telecom major said in a regulatory filing. The Department of Telecom (DoT) estimates the company's dues related to adjusted gross revenue (AGR) at Rs 58,254 crore for period up to financial year 2016-17, but the company has pegged the dues at Rs 46,000 crore "after adjustment of certain computational errors and payments made in the past not considered in the DoT demand". Of the total dues, it has made a payment of Rs 6,854.4 crore so far. The company took a hit of Rs 1,783.6 crore on account of AGR-related liabilities, and Rs 3,887 crore on account of one-time spectrum charges (OTSC), both of which were recognised as exceptional items during the quarter ended March 2019. Revenue from operations in the quarter ended March 31, 2020 came in at Rs 11,754.2 crore. For the full year financial year that ended on the same day, Vodafone Idea's losses stood at Rs 73,878.1 crore, as against Rs 14,603.9 crore in financial year 2018-19. The company said that the financial results for the year ended March 31, 2020 are not comparable with the corresponding period a year ago due to the merger between Vodafone India and Idea Cellular which took effect in August 2018. The revenue from operations for financial year 2019-20 stood at Rs 44,957.5 crore, as against Rs 37,092.5 crore in 2018-19. Vodafone Idea said in a statement that its revenue rose 6 per cent compared to the previous quarter driven by prepaid tariff hikes effective December 2019. "Our focus on rapid network integration, as well as 4G coverage and capacity expansion, has further improved customer experience. We thus continue to lead the league tables on 4G data download speeds across several states, metros and large cities. We have achieved our full opex merger synergy target," said Ravinder Takkar, managing director and CEO, Vodafone Idea. The next Supreme Court hearing on the AGR matter is scheduled to be held in the third week of July, he added. "Meanwhile, we continue to actively engage with the government seeking a comprehensive relief package for the industry, which faces critical challenges," Mr Takkar said. As of March 31, 2020, the company's gross debt (excluding lease liabilities) was Rs 1,15,000 crore including deferred spectrum payment obligations of Rs 87,650 crore due to the government. "The network integration is in final stages of completion but has been impacted by the nationwide lockdown due to COVID-19. As of date, we have completed network integration in 92 per cent of total districts," the company said. Due to the continuation of the nationwide lockdown to curb the spread of the coronavirus pandemic, the remaining consolidation is expected to take longer than initially expected, it said. The company's subscriber base eroded to 291 million in the January-March period from 304 million in the previous quarter. Its average revenue per user (ARPU), a key measures of a telecom company's profitability, improved to Rs 121 in the January-March period, from Rs 109 in the previous quarter, driven by the prepaid tariff hike. Vodafone Idea maintained it plans to monetise its 11.15 per cent stake in Indus Towers on completion of the Indus-Infratel merger. The company said there is no material impact of the pandemic on its overall performance, but it continues to monitor the situation closely. On the AGR matter, the company said that it has recognised a total estimated liability of Rs 46,000 crore. "The total estimated liability of Rs 460,000 million stands reduced as at March 31, 2020 to the extent of payment (Rs 6,854.4 crore) made," the company said in the regulatory filing.

[muscletrade] 01/7/2020 06:38

courtesy CNBC India, Vodafone Idea Q4 Revenue Improves | Vodafone Idea has reported operationally better Q4 results, with a 11% increase in EBITDA from the last quarter.

[spud] 30/6/2020 21:11

Yes - £573.6k out of his own pocket (as a personal investment) is not to be sniffed at & shows that he has considerable confidence in the Company. spud

[imastu pidgitaswell] 30/6/2020 15:15

A pleasant change - was thinking this was heading the way of HSBC and BP, i.e. nowhere/down. Still very dull though.

[muscletrade] 30/6/2020 14:27

thanks for that Spud. Perhaps they could move into the old Wirecard offices as that space will be available. More seriously nice to see CEO buying a good slug of shares.

[spud] 30/6/2020 11:15

https://www.cityam.com/vodafone-likely-to-snub-the-city-for-frankfurt-for-towers-business-listing/ Vodafone is veering away from the City, and is instead eyeing up Frankfurt for the listing of its multi-billion-pound European towers business, in a move that will further position the firm away from Britain. The telecoms firm last week invited advisers to pitch for a role on the planned flotation of its European tower units, set for early next year. The FTSE 100 group is seeking a valuation of between €10bn (£9.2bn) and €20bn, and the listing could raise more than €2bn, according to people familiar with the matter. The towers business, Towerco, forms a legally separate organisation within Vodafone, boasting almost 62,000 masts across 10 countries. Vodafone predicts it will likely bring in annual revenue of roughly €1.7bn, with proportionate Ebitda of around €900m. In May, Vodafone chief executive Nick Read said London and Frankfurt are both strong contenders for a listing venue. However, Vodafone is now leaning towards Frankfurt as a listing venue, according to a Bloomberg report. Deliberations are thought to be at an early stage, and no final decisions have been made. The move would mark a further blow for the telecoms firm’s presence in Britain, as Vodafone continues to pivot towards Europe for its central operations. Vodafone is headquartered in Paddington, London, however its new towers unit has significant operations in Germany, and is set to be headquartered in Dusseldorf. Read last year said Germany was the “heart of the company”, marking 40 per cent of free cash flow, but that “London remains a good place to have a global headquarters”. But the move casts fresh doubt on whether Vodafone will retain the City as its global base, as the UK edges towards the Brexit deadline. Read added: “Obviously, with Brexit I hope that remains the case.” Towers have become a vital trading asset for cash-strapped European telecoms firms in Europe, with companies such as BT, Telefonica, Iliad, and Sunrise selling masts. Vodafone’s decision to spin off its towers business comes as the company attempts to ease its €42.2bn debt pile. The telecoms company claims the Towerco business will create Europe’s largest towers portfolio. Shares remained largely flat on the news at 125.7p at 12pm. Vodafone was approached for comment. spud

[ariane] 26/6/2020 11:03

JP Morgan Cazenove Overweight 180.00 - Reiterates

[imastu pidgitaswell] 25/6/2020 15:25

Aw, come on, doing OK now?

[diku] 25/6/2020 15:24

You jinxed it...

[imastu pidgitaswell] 24/6/2020 09:03

Because I have decided to get involved...

[veryniceperson] 24/6/2020 09:00

Why are these taking a hiding today. Must be stinky India again.

[la forge] 24/6/2020 07:58

Barclays Capital Overweight 170.00 - Reiterates bad bull 22 Jun '20 - 13:13 - 893 of 893 0 1 0 (*^_^*)

[spud] 23/6/2020 13:26

Vodafone Invites Pitches for $2 Billion Tower IPO By Ruth David , Dinesh Nair , and Myriam Balezou https://www.bloomberg.com/news/articles/2020-06-22/vodafone-is-said-to-invite-pitches-for-2-billion-tower-ipo Potential advisers asked to submit proposals next month U.K. carrier plans to list infrastructure arm in 2021 Vodafone Group Plc has invited advisers to pitch for a role on the planned initial public offering of its European towers unit, which could raise more than 2 billion euros ($2.2 billion), people with knowledge of the matter said. The U.K. carrier asked potential underwriters to submit proposals next month, according to the people, who asked not to be identified because the information is private. It plans to list the business as soon as early 2021 and is considering seeking a valuation of 10 billion euros to 20 billion euros, the people said. Rothschild is helping manage the IPO preparations as financial adviser to Vodafone, according to the people. The role typically involves overseeing the selection of deal arrangers as well as making recommendations on other aspects of the listing. Telecom operators are increasingly seeking ways to extract value from their tower portfolios. Wireless infrastructure has been drawing interest from investors attracted to the steady, long-term nature of the assets. Vodafone’s listing could help revive the European IPO market, which is on track for the slowest first half since 2012, according to data compiled by Bloomberg. Vodafone is leaning toward Frankfurt as a listing venue, though no final decisions have been made, the people said. Deliberations are at an early stage, and the amount it ultimately raises will depend on market conditions and the percentage stake it sells in the offering, according to the people. Representatives for Vodafone and Rothschild declined to comment. Vodafone announced last year that it had plans to carve out its towers business and consider it for an IPO or minority stake sale. The new unit was expected to include about 61,700 masts in 10 countries, Vodafone said at the time, with operations likely to generate about 900 million euros of annual earnings before interest, tax, depreciation and amortization. London and Frankfurt are both strong contenders for a listing venue, Vodafone’s Chief Executive Officer Nick Read said on a May media call. spud

[del8894bam] 23/6/2020 12:02

Here, what's occurring?

[waldron] 20/6/2020 07:14

RNS Number : 5234Q Vodafone Group Plc 19 June 2020 19 June 2020 Notice of Annual General Meeting Vodafone Group Plc announces today that its 2020 Annual General Meeting ("AGM") will be held on Tuesday, 28 July 2020 at 11.00am. In connection with this, the Notice of AGM and the Forms of Proxy have been posted or made available to shareholders today. The Notice of AGM is also available on the Company's website at vodafone.com/agm . Copies of the above mentioned documents have been submitted to the National Storage Mechanism and will shortly be available for inspection at hxxps://data.fca.org.uk/#/nsm/nationalstoragemechanism , in accordance with Listing Rule 9.6.1. I n light of the current UK Government measures and the Company's desire to protect the health and safety of shareholders and employees, the AGM this year will be run as a closed meeting. Shareholders should not attempt to attend the AGM in person as entry will be refused. If there are any changes to the current arrangements for the AGM, the information will be made available on our website. Given the current restrictions on attendance , shareholders are encouraged, regardless of the number of shares owned, to submit a proxy vote in advance. It is recommended that the c hair of the AGM is appointed as the proxy to ensure the vote is counted as other named proxies will not be permitted to attend the meeting. Vodafone is keen to maintain dialogue with shareholders. Shareholders are, therefore, encouraged to watch the 2020 results presentation which is available at vodafone.com/investors and send any questions or comments by email to [e-mail] for the directors to consider by 5 pm on 10 July. An AGM presentation by the Chairman of the Board, and a questions and answers session in which some members of the Board and the Chairman will address a representative selection of questions pre-submitted by shareholders, will be available at vodafone.com/agm from 11:00am on the date of the AGM. - ends -

[spud] 19/6/2020 18:30

Fingers crossed Muscle. I can't help feeling that the Indians are trying it on and it's the first to blink who loses most. Someone needs to remind them that they're not in the Bazaar now....spud

[muscletrade] 19/6/2020 06:30

Courtesy Business Today India Finally, there seems to be some light at the end of the tunnel for Vodafone Idea and Bharti Airtel. On the AGR (adjusted gross revenue) issue, the Supreme Court has today asked telcos to make some down payments if they want to avail staggered payments relief. The court, headed by Justice Arun Mishra, said that it's not possible for the court to pass orders without telcos making reasonable upfront payments. This is not a big relief for telcos who hoped that the apex court would allow them to make AGR payments over 20 years. Last year, the telcos lost a 14-year-old case against DoT (department of telecom) after which the court had directed the telcos to submit Rs 1.69 lakh crore with the exchequer. The past attempts of the telcos to seek relief from the court - in form of review petitions - didn't yield results. However, it remains to be seen if telcos are actually in a position to make upfront payments for their outstanding dues. So far, they have cumulatively paid Rs 29,256 crore to the DoT, and they are yet to pay nearly Rs 1.4 lakh crore. Within the unpaid dues, Vodafone Idea has the highest share (at Rs 51,400 crore) followed by Bharti Group (Rs 25,976 crore). The biggest challenge for Vodafone Idea is to arrange for upfront payment which is a new animal that the telco will have to deal with. Until last hearing, the court had asked companies to submit affidavits with the DoT on staggered payments roadmap and securities that they can furnish. Vodafone Idea today said that it doesn't have any proposal to give, and its bank guarantees of Rs 15,000 crore should be considered as securities. Vodafone Idea said the telco is not making profits for the past many quarters, and the parent company has reportedly written off investment in the telecom venture. "It's difficult to believe that court will not ask for upfront payment since it has raised question on the telco's ability to survive for 20 years. For Vodafone Idea, it is back to square one," says a telecom analyst. So there are two options for Vodafone Idea: parent companies infuse money, or it goes to the market to raise fresh capital - just like Airtel had raised $3 billion through a mix of debt and equity early this year. Apparently, the court has asked telcos to submit their financial documents (revenues, tax payments) of the past 10 years. This would primarily substantiate the claims made by Vodafone Idea on its tight financial situation. Given that telecom has been one of the gainers in the current pandemic, and Jio has managed to raise over Rs 1.04 lakh crore in the past two months, Vodafone Idea's chances of survival have never been better, experts say. "A staggered payment option, with some upfront payment is a deal which Vodafone Idea should not refuse at this stage. I see it as a breather for all telcos who have repeatedly faced setbacks from the highest court," says a telecom executive. While all eyes are set on the next hearing date in third week of July, given the unrelenting stand of the court on the AGR issue thus far, today's order is seemingly music to the telcos' ears.