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VOD Vodafone Group Plc

-1.39 (-1.72%)
27 Sep 2023 - Closed
Delayed by 15 minutes

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Share Name Share Symbol Market Type Share ISIN Share Description
Vodafone Group Plc LSE:VOD London Ordinary Share GB00BH4HKS39 ORD USD0.20 20/21
  Price Change % Change Share Price Shares Traded Last Trade
  -1.39 -1.72% 79.32 107,270,332 16:29:59
Bid Price Offer Price High Price Low Price Open Price
79.34 79.36 80.82 79.30 80.60
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Radiotelephone Communication 45,706.00 11,838.00 - 1.89 22,238.95
Last Trade Time Trade Type Trade Size Trade Price Currency
17:52:15 O 243,014 79.32 GBX

Vodafone (VOD) Latest News

Vodafone (VOD) Discussions and Chat

Vodafone Forums and Chat

Date Time Title Posts
25/9/202316:13Vodaphone - 5G Into The Blue 7,118
25/9/202309:56Vodafone - Charts & News2,711
02/6/202315:43TEST NM21
10/5/202316:03TEST NMNM2-

Add a New Thread

Vodafone (VOD) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-09-27 16:22:3779.3217,27513,702.53O
2023-09-27 16:20:3980.3615,73512,644.49O
2023-09-27 16:20:1879.3058,31246,243.75O
2023-09-27 16:19:2879.394,5313,597.12O
2023-09-27 16:18:4479.55254,817202,709.47O

Vodafone (VOD) Top Chat Posts

Top Posts
Posted at 18/8/2023 12:00 by dig and sell
The VOD share price will recover in time. Anyone getting on board at the current level will do very nicely. For those of us who have been here for years, our patience will be rewarded eventually and the dividends ease the pain whilst we wait. VOD revenues are strong, debt is reducing year-on-year, there are plans to address underperforming markets and mergers are highly likely. Sentiment, not fundamentals, is driving the market cap to be less than a year ago. That can change very quickly.
Posted at 03/8/2023 12:31 by davius
Someone was commenting recently that they wanted the share price down by Friday, so that when their dividend is reinvested it results in more shares purchased.

Given that the award appears to have been cash based (eg, Ms Fail receiving £6.25m worth) then the board had an incentive to see the shares as low as possible prior to the award.

Their ultimate reward will thus be greater the weaker the initial share price, effectively a reward for incompetently managing the share price

In the real world we'd call it corrupt. In the world of directorships it's a Brucie Bonus...
Posted at 29/7/2023 06:54 by ariane
Bloomberg says private equity players could bid for Vodafone Spain
Annie Turner

28 July 2023

The Spanish opco is valued at €4 billion, despite its struggles and losing out on MásMóvil merger to Orange Spain

Days ago, Vodafone Group’s CEO, Margherita Della Valle, saying that its Spanish operations needed “structural change” and that Vodafone is considering “a range of options”. Vodafone is the third-largest operator in Spain.

Private equity interest

Now Bloomberg reports a group of private equity firms – Warburg Pincus, Carlyle Group and Apollo Global Management – could be interested in bidding for the Spanish opco, according to Bloomberg. Despite its travails, Vodafone’s Spanish unit is valued at around €4 billion.

In April, Bloomberg reported Vodafone Spain was ‘trailing a coat’, that is looking to attract buyers, although no formal sales process was in place. It reported that Apollo Global management was potentially interested.

Della Valle made the comments about the Spanish opco earlier this week at its Q1 earnings report. While the decline in the service revenues in Spain fell 3.0% to €965 million, down from a decline of 3.7% in the previous quarter, this appears in part to be down to price increases as it lost both mobile and fixed customers.

Della Valle said a strategic review of Spain, begun in May, had borne some fruit but clearly not enough in her view.

History of struggle

Vodafone has been struggling in the Spanish market for a considerable time. It had explored a merger with MásMóvil, the country’s fourth-largest telco which is backed by private equity.

After months of speculation, Orange Spain suddenly announced it would be the senior partner in a merger with MásMóvil. The proposed deal is undergoing scrutiny by the European Commission which is concerned that the tie-up with Orange might be anti-competitive. Orange is the country’s second-largest operator behind leader Telefónica.

There is speculation that should the European Commission block Orange’s deal with MásMóvil, a tie-up with Vodafone could be back in the frame. But mills of the Commission grind slowly and it seems Vodafone is looking for a speedier solution to its Spanish situation.

In the meantime, Spain is the third country in Vodafone’s planned pan-European roll out of MEC via AWS Wavelength.
Posted at 26/7/2023 22:10 by davius
Vodafone shares hit six-week high after Q1 results

There should be enough going on at the mobile phone giant to generate interest in its underperforming shares, but the company has a mountain to climb. Our head of markets analyses its position.

The announcement of a mega-merger and fresh blood in the boardroom would normally be enough to light a fire under a share price, but Vodafone Group investors are taking an understandable wait and see approach.

The merger with Three UK is expected to close by the end of next year and is subject to regulatory approval, which could yet prove to be more of a hurdle than Vodafone is suggesting. If passed, however, expected annual cost savings of £700 million by year five clearly underline the attraction of the deal, notwithstanding the likely £500 million of integration costs leading up to that point.

In the meantime, the group is well aware that it has a mountain to climb. Higher energy costs in the background have not helped, while a deteriorating performance in Germany, which accounts for around 26% of revenues, has been seen amid intense competition and new legislation in the pipeline.

The decline in revenues of 1.3% for the last three months is an improvement from the 2.8% drop reported in the previous quarter and was largely driven by price increases in the broadband service, although this has inevitably come at the cost of losing some cost-conscious customers.

Elsewhere in Europe, performance has been mixed, with similar pressures to the German experience weighing in markets such as Spain and Italy. The UK fared rather better, reporting a service revenue increase of 5.7% compared to 3.8% the previous quarter, while 42,000 broadband customers were added, taking the existing total of customers to 1.3 million.

From a group perspective, a reported revenue decline of 4.8% in the first quarter masked organic growth of 3.7%, where the African business continues to make a notable contribution. Vodacom revenues grew by 9% over the quarter from a previous 7%, with South Africa and Egypt being beacons of light. Indeed, there are some exciting growth opportunities in Africa (it now has 73.5 million financial services customers) and more broadly its multi-play offering (TV, broadband, fixed line) often results in “stickier̶1; customers when they have chosen the bundle.

Guidance for the year is unchanged and the accompanying management comments recognise the scale of the challenges to come, while the performance of the Business segment and certain geographical regions provide some grounds for optimism.

In the meantime, net debt remains something of a concern to investors, although the group is reportedly comfortable with the current levels. The dividend yield of 10.6%, partly the result of a declining share price, is of scant solace to long-suffering investors, even if the yield of itself is extremely punchy.

The shares have reacted positively at the market open on Monday to the glimmers of hope which have been reported, but there remains a significant amount of ground to make up.

Over the last year, the shares have dropped by 43%, as compared to a gain of 5.3% for the wider FTSE100 index, while over the last five years the price has plunged by 59%. Investors will be hoping that the positive noises emanating from the group prove to be the thin end of the wedge, but in the meantime the jury remains out, with the market consensus of the shares as a 'hold' likely to remain intact.
Posted at 11/7/2023 12:02 by diku
If only we understood what news is good for VOD share price...
Posted at 30/6/2023 01:36 by vodman1
UAE telecom is the frontrunner if they choose to buy Vod. They already own 15%. If you listened to the investor relations conference call a few weeks ago when asked about UAE telecom Vod investor relations talked about synergies which could be created by exchanging expertise. However, if you look at their faces, it was clear at least to me, they were very concerned about a full takeover. Their body language said enough as they seemed uneasy.

Any telecom company interested in European exposure from China Telecom, I know not politically feasible, to any of the US baby bells ATT included, to Liberty Global or a private hedge fund. A private hedge fund could easily take out Vod since the market cap is around 24 billion dollars these days.

What it comes down is price. Vod fair value is anywhere from $15 to $25 US dollars. I estimate book value at $25 per share. However, I do not believe it would be sold for so little. If Vod sold off its assets it could reap anywhere from %47 billion to $60 billion dollars. So I would think the takeout price would be much higher than fair market value.

In any event, there seems to be a lot of money for shareholders if the MDV rights the ship. Encouraging is the fact that Spanish assets may enter into a joint venture or be sold off by September. Also UAE telecom and Vod operations in Africa are very complimentary and cover much of the continent. If they combine African assets there is a potential for 450 million customers with mobile banking included.

By selling off the least of their profit making or losing assets they could raise 10 to 15 billion dollars.

They could also sell off move of Vantage Towers.

So in my mind debt is not a major issue.

There are a lot of moving parts at Vod. Let's hope they move fast.
Posted at 15/6/2023 15:19 by kipper999
From Investing.com
Deutsche Bank 185p

Vodafone and Three UK merger - analysts see higher synergies than expected

Proactive Investors - Vodafone Group PLC's (LON:VOD) binding deal to merge its UK arm with Three offers better synergies than expected, said analysts, but the market's muted reaction reflects major ongoing uncertainties.

With synergies from operating and capital expenditure expected to exceed £700mln by year-five and a net present value (NPV) of at least £7bn was "well ahead" of Deutsche Bank (ETR:DBKGn) analyst Robert Grindle's forecast.

He noted that the major savings came from the combining of two network cores and IT systems, which was divulged on the conference call following the deal, with duplication of mobile tower resources said to be offset by increased volumes due to high 5G build/ coverage targets.

The Deutsche analyst estimated the merged business will have an enterprise value of roughly £11bn, compared to his previous estimate of around £7bn.

He said this further supported his target price for the shares of 185p, saying the shares "should benefit" from the deal announcement, though may be limited in the near-term due to the deal's distant completion date and "likely hostile response from some quarters", even though he sees "material" industry and government support for the merger.

Barclays (LON:BARC) analyst Maurice Patrick agreed the synergies are higher but said the dividend policy is "conservative", with Vodafone having circa 4x leverage at closing and only promising to pay dividends once reaching 2.5x, expected at least three years post closure of the deal.

UBS analyst Polo Tang said merger synergies are worth 13p per Vodafone share.

He said the shares moving less than 1% by the close after the deal was unveiled on Wednesday "we think reflects uncertainties around regulatory approval, the long timeframe to deal competition (12-18 months) and questions around the deal structure/financials".

Tang noted the CMA recently blocked the Microsoft/Activision deal and its position on UK mobile consolidation "is unclear", while the European Commission's 2016 blocking of the Three/O2 UK merger saw three concerns cited (less retail competition, less infrastructure investment and less wholesale competition) and Ofcom also vocal in objecting to the deal.

Comparing the circumstances today, he noted the Vodafone UK/Three UK merger would have circa 34% retail share compared to the 40% plus for O2/Three before, and that Ofcom has separately stated that Vodafone and Three are not making returns above their cost of capital.

Vodafone's statement pushed the line that a UK merger would create a stronger challenger to BT (LON:BT)'s EE and VMO2 and more of a broadband challenger with fixed wireless access.

"It is unclear whether the CMA will revisit the remedies proposed in 2016 with Sky taking 20% of the merged network capacity at a fixed price of £200m per annum," the UBS analyst said.

"However, in hindsight this could have been disruptive for the market and discouraged investment."

Barclays' Patrick said the "agreed/required remedy is key, with aggressive remedies typically eroding all cost synergies" from the perspective of cash flow post deals.

"How the company addresses this last point is crucial," he said, seeing a risk that rivals Orange and Masmovil could agree to harsh remedies in Spain that "would continue to create market uncertainty and disruption".

Read more on Proactive Investors UK
Posted at 14/6/2023 19:10 by topvest
I don't own VOD shares directly, but this appears an unspectacular deal. There is a very long wait until it happens, regulatory uncertainty over whether or not it will happen, delayed decision making for both businesses whilst they wait (which can't be good for business) and then, importantly, VOD will only own 51% of their UK business with CK owning the rest. If you own 51% of something, you will never get full value reflected in the share price. I see they have the option to buy the rest, but it doesn't look a recipe for getting the share price up in th next five years. They also don't really have much spare cash to buy the 49% if the share price doesn't pick up. Why wouldn't they demerge the whole UK business at the same time? Maybe this transaction is the main reason for the recent share price collapse!
Posted at 06/6/2023 09:10 by geckotheglorious
Am tempted too myself but the share price performance has been so bad here, and the debt so high, am trying to stop myself!

"”Vodafone job cuts spur on JOHCM duo to buy back in”
JOHCM’s Clive Beagles and James Lowen have started to add to Vodafone (VOD) after cutting their stake in the telecom firm over recent years.

In a recent update for their £1.6bn JOHCM UK Equity Income fund, the pair said they had bought back into Vodafone in May following the share price fall after new Vodafone boss Margherita della Valle said she would cut 11,000 jobs globally over the next three years in a bid to give the business a competitive edge again.

The Citywire Elite Companies A-rated company forecast cashflows of €3.3bn (£2.85bn) for this financial year, down from €4.8bn in the year ending March 2023.

‘Vodafone was weak as the new chief executive rebased expectations, which now look credible,’ Beagles and Hughes said.

‘We had cut out position by more than 50% over the last few years but started to add post the fall after this set of results.’"
Posted at 05/6/2023 12:41 by dipa11
Reason for my purchases Vodafone Group Plc Transaction in Own SharesSource: UK Regulatory (RNS & others)TIDMVODRNS Number : 1357TVodafone Group Plc16 March 202316 March 2023Vodafone Group Plc ('Vodafone')ISIN Code: GB00BH4HKS39Transaction in Own SharesVodafone announces that it has purchased the following number of its ordinary shares of 20 (20/21) US cents on Exchange (as defined in the Rules of the London Stock Exchange) from Goldman Sachs International ('Goldman Sachs') as part of its buy-back programme announced on 16 November 2022 (the 'Programme'). The sole purpose of this Programme is to reduce the issued share capital of Vodafone to offset the increase in the issued share capital as a result of the maturing of the second tranche of a two-tranche mandatory convertible bond ('MCB') issued by Vodafone in March 2019. Following completion of the Programme, the increase in the issued share capital as a result of the maturing of the second tranche of the MCB will be fully offset.Date of purchase: 15 March 2023 Number of ordinary shares of 20 (20/21) US cents each purchased: 6,074,465 -------------- Highest price paid per share (pence): 97.23 -------------- Lowest price paid per share (pence): 94.14 -------------- Volume weighted average price paid per share (pence): 95.90 -------------- Vodafone intends to hold the purchased shares in treasury. Following the purchase of these shares, Vodafone holds 1,825,691,429 of its ordinary shares in treasury and has 26,992,564,629 ordinary shares in issue (excluding treasury shares).As part of the Programme, Goldman Sachs purchases Vodafone (213800TB53ELEUKM7Q61) ordinary shares and sells such shares to Vodafone. In connection with the above purchases, on 15 March 2023 Goldman Sachs (as principal) elected to purchase 6,074,465 Vodafone ordinary shares to sell to Vodafone. A schedule of individual trades carried out by Goldman Sachs on 15 March 2023 is set out below.These purchases are the last purchases to be made under the Programme, as the Programme has now been completed in accordance with its terms.Schedule of purchases - aggregate information
Vodafone share price data is direct from the London Stock Exchange
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