I notice that Deutsche Bank increased its price target for VOD today. I think it still has to break a strong 240p resistance before it moves towards the 250p level. It is possible especially if Project Spring delivers.
LONDON (Alliance News) - Vodafone Group PLC Tuesday increased its stake in Greek broadband and fixed line telephony provider Hellas Online SA after its subsidiary completed the acquisition of 72.7% of Hellas' share capital as it looks to takeover the company.
Vodafone Greece purchased the stake in the company for a total consideration of EUR72.7 million. Following the transaction, Vodafone owns 91.2% of the Hellas, and has said it will extend a mandatory takeover offer for the remaining shares in the company.
The transaction values the fully diluted equity of Hellas at EUR100 million and is equivalent to an enterprise value of EUR311m including Hella's adjusted net debt of EUR211m, it said in a short statement.
Vodafone shares closed up to 225.60 pence per share on Tuesday.
Disregarding the licence's which now appear to be covered under the electronic communications code and many companies are listed, when Vodafone took over C&W it acquired a multitude of UK telecoms assets that place it as BT's main competitor, no way would Vodafone be allowed to take over BT.
Vodafone would NOT BE ALLOWED to bid for BT due to the Cable & Wireless acquisition. As a result of the C&W purchase Vodafone obtained a national carrier licence and any attempt to take over BT would immediately stopped for competition reasons.
I wrote a few days ago about options for VOD as a company, one was a little tongue in cheek as I hadn't seen any references to it anywhere, however in the light of the BT / O2/ telefonica talks, I will air my thoughts again. VOD should look at the option of making a bid for BT and PDQ, if BT was ever to acquire any sort of mobile foothold in the UK ofcom would never allow VOD anywhere near BT. The synergy would be a game changer for VOD it would give it the ability to be be able to enhance all areas in one go rather than trying to buy / develop / expand many small pockets of a fragmented business. BT has become more and more respected as a dynamic and well run company providing a wide range of communication systems and entertainment formats - but it lacks one thing! Guess who has that! Just a thought or two as I can't see the down sides. (I hold shares in both co's).
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