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I'm a bit confused as to why Unite are involved in this, as the Communication Workers Union normally provide representation within the Telecom sector. The only thing I can think of, is that this is coming from the public sector/services side of the equation.
I've always thought the chance of regulators allowing a Vodafone UK/Three merger were slim to none, due to the identical nature of their mobile businesses and their positions within the sector.
As far as any national security concerns, that'd be super easy to sort out:
1) Give Vodafone supervisory control over the combined UK entity
2) Ring fence the departments, who deal with sensitive Public sector contracts, coming under the national security umbrella
3) Limit any information relating to the ring fenced departments, to a few Board Members who have the relevant Vetting and security level clearances
4) Ensure procedures are in place to ensure the ringfencing rules are enforced
I can see loads of reasons for the regulators to block the merger, but I don't see National Security as being one of them; Since the ringfencing rules, I've listed above, are likely already in force at firms like Vodafone, BT, VMO2 and any other company bidding for sensitive public sector contracts, otherwise what's the point of having Vetting procedures?
Hello Mikey. Many on here may question why I bother to answer your posts, but I would like to answer your last post. You ask if I would ever admit that I was wrong? I assume you mean was I wrong to buy vodafone shares, & the answer is a big yes, it was a very big mistake, so Mikey I was wrong. I wish I had never bought vod shares, but I did, so I can sell at a big loss, or hold, hopeing they will recover. What I won't do(sorry to repeat myself) is whinge & moan about it. So Mikey, how about you returning the faviour & admitting you are wrong sometimes? That might work.
Thank you for all that, I am not quite sure what I did to upset you lot, but clearly some of you just don't it? Good luck to you all though. What is this keyboard warrior crap ? Someone better on the keyboard than you perhaps? What is your point? Yes I am loseing money on vod, & I am honest enough to admit it (unlike some on here) but I admit it, & don't moan about it, so what is this telephone tough guy crap all about. Just get a life you lot? Good luck from dan, the odious, feeble brain keyboard warrior, telephone tough guy? ( Is that Gary59 for real ??) please stop complaining about iinsulting, by insulting . & mrcautious of course who almost made it? If It wasn't for bathing in his own bile!?
From the Telegraph
Vodafone has been warned by union bosses that the planned merger of its UK arm with Chinese-owned rival Three raises “profound national security questions” relating to sensitive official contracts.
Officials at Unite have written to Margherita Della Valle, interim chief executive of Vodafone, to express their “grave reservations” about CK Hutchison, the Hong Kong-based parent company of Three.
The proposed multibillion-pound tie-up has been under discussion for many months and would create a single operator with 27 million customers. It could prove to be the biggest test to date of new takeover laws aimed at safeguarding national security, however, amid mounting concern over Chinese involvement in critical infrastructure.
Unite accused Li Ka-shing, the billionaire owner of CK Hutchison, and his family of political “collaboration” with the Chinese state. Mr Li and his son Victor hold civil and political roles, and sat on the election committee that pushed through pro-Beijing candidate John Lee Ka-chiu as chief executive of Hong Kong.
The union, which was involved with a dispute with CK Hutchison at the Port of Felixstowe last year, also pointed to previous comments by Mr Li in support of Hong Kong’s sweeping new national security laws. They have helped Beijing to stamp out dissent and tighten its control over the former British colony.
Unite wrote: “A tie-up between Vodafone and Three would give the CK group a far more prominent and powerful place at the very heart of the UK’s telecoms infrastructure, and we therefore believe that such links prompt significant national security questions regarding any proposed merger.
“In particular, given Vodafone’s position as a strategic supplier to the UK public sector, we believe there are profound national security questions to be asked about involving the CK group in sensitive government contracts."
Vodafone has responded to the letter but refused to meet officials at Unite until any deal is finalised.
Unite’s intervention marks the latest sign of opposition to a deal between Vodafone and Three. The Telegraph also understands that Sky expects to resist the merger, with a source arguing that the two companies were planning to “raise prices for consumers because they haven’t managed their businesses well”. Vodafone and Three have argued their returns are too low and they must be allowed to merge to cut costs to fund investment in mobile coverage.
Unite is now planning to devote considerable resources to lobby politicians and regulators to oppose the merger. The National Security and Investment Act, which was introduced in 2021, aims to address worries about the
Vod closing Sp 89.3p
Exil 90p winner
Android 92p
SlartiB 88.1p
AbjectP 94p
Guttersnipe 68p
Carltt 87p
Wisebear 93p
Roofer 88p
Enjoy your weekend....atb
Mr Cautious don’t concern yourself with Danny boy, he is sitting on a hefty loss here with his stupid decisions to buy this crock of sh t when it was a lot higher & his feeble brain thinks that by insulting others who are simply making salient points it will make him feel better. He is the worst kind of keyboard warrior or telephone tough guy. An odious individual if ever there was one.
crikey, watching paint dry this week. the minute candles hung like door streamers keeping flies away.
Roofer, I dont think I watch another week!
No sign of Danny boy tonight. Mr cautious scared him away maybe?...
Accolade goes to
"EEEEEEil" Well done
Speech Speech Exil
Vod closing Sp 31st March...89.30p
Full list will follow
Enjoy your weekend....atb
BT and vod diverging again.
Ski friday Dan !!!!!
daniel - I admit I never had the political makeup to make it to the top. But I have been pretty successful in my life financially up to my retirement. In fact aside from my career in the tech industry I set up a company in my spare time with loose bits of cash which I sold for over £200K - you on the other hand see yourself as a bit of a keyboard warrior and mr unpleasant which has been recognised by others on this board. I would suggest you continue to bathe in you own bile for a bit longer !
Well I finally sold out this morning hence it'll start to rise.
Have moved the remaining money into finance stocks purely on the basis that they should be more likely to regain ground.
Once again I expect the swap to prove to be a mistake.
Lets see if new ceo breaks up vodafone and sells it off
Care to list the positive news you know is coming.
nice chart Android, thank you
Some play ground arguments on here. Should some of you be at school?
Have a good Friday
Don't see anything but positive news coming in the short to medium term. Waiting patiently. It will come.
Danielh usual reply - wonder if he will ever admit he was wrong . Probably when the share is in the 60p’s but even then we will all be wrong not him . According to daniel anybody who is negative is sad , disgruntled , idiot or moron . We will see daniel we will see
' increased interest rates on excessive borrowings'
I thought VOD debt is fixed coupon averaging c2.5% and no material near term debt due for repayment.
The cost of margin calls must be going up with interest rates?
As the FTSE goes up this goes down. As the FTSE falls this plummets. Vodafone is long gone with its business model, declining revenue, increased interest rates on excessive borrowings and sale of assets to bring down debt but then paying stupid money for licences that will never return investment.
Now would any reputable CEO want to leave where they are and come to this.
Will a merger save them. Who knows but the company is out of favour. Good news of a CEO may make a difference fir a couple if weeks but fundamentals don't change.germamy is a key market and they are losing business. Finally when the people who work for them can't be interested in looking after you its no wonder people are changing carriers
Good luck but follow the trends
mrcautious. The answer is obvious, You apply for the job then if you think you can do better. Goud luck with that one. Don't give up your day job though. You sound like someone who although held moderatly senior positions(as you said) but never quite made it to the B.O.D. or C.E.O. I wonder why? There are many like you out there, who never quite made it, time to move on, & get over it.
daniel - so are you saying Nick was a reasonable CEO then ? I held moderately senior positions in a couple of large corporates in the tech industry, and I saw 3 main types of CEO 1) The politician that had clawed there way there and didnt know how to do the job when they got there 2)The figurehead that wasnt really a businessman but was very good at frothing things up for the stock market and most commonly 3)The CEO who saw a 2-3 years term where they could enrich themselves as much as possible until they got found out and even then got a golden parachute - I personally never saw a really good one in my industry. We seem good at criticizing them because so few are actually good !
mick-b, yes played. I notice the media now talk about wealth rather than pensions. You can include your home, equity release etc in that. Emerging economies and home ownership are to be applauded as more of the worlds population join the 'expanding middle class'. But I feel poorer for it. Maybe the post brexit, indo pacific trade deal will balance the telco books