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https://www.telegraph.co.uk/business/2023/02/13/cable-cowboy-snaps-stake-beleaguered-vodafone/
Bushy. I don't know if you have ever done CFD's or spread bets, but they are completely different. The word is gearing, where you invest 25% & borrow the other 75% for your investment. Spread betting, or CFD's is simply betting on the day to day movement of a share price.
So they put up partial equity and borrowed the rest, that's a CFD by the sounds of it ;-)
Whatever it is, it has to be good news, only time will tell. Vod has had a false dawn before with Liberty, but this looks promising. I can only assume B.T. saying it is a spread bet is just a joke? Very funny, HA HA.
Of course it's not a spread bet, are you joking?
No it isn't, it looks as though Liberty Global has injected £225 million capital with the rest of the money being supplied by undisclosed venture capital in the form of Non Recourse Financing.
It is a spread bet fleccy... They've paid out a quarter of the actual cost for their position.
"CEO Mike Fries calls stake an “opportunistic and financial investment”
Liberty Global plc (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and LBTYK) announced today that it has acquired 1,335 million shares in Vodafone Group PLC ("Vodafone") representing 4.92% of the outstanding share capital (excluding treasury shares). The transaction was principally funded through an attractive non-recourse financing, requiring equity funding from Liberty Global of approximately £225 million.
Mike Fries, CEO of Liberty Global, commented, “We believe, like many others, that Vodafone’s current share price does not reflect the underlying long-term value of their operating businesses, or their announced consolidation and infrastructure opportunities. We continue to remain disciplined about our capital and fully expect that the equity used to fund this investment will be replenished with the sale of certain non-core assets over time.”
No regulatory approvals are required for an investment at this level and Liberty Global does not intend to seek board representation at Vodafone.
The investment in Vodafone is part of Liberty Global’s investment portfolio of more than 75 companies and funds across content, technology, and infrastructure, including stakes in companies such as ITV, Televisa Univision, AtlasEdge, Plume, and the Formula E racing series.
Liberty Global confirms that it is not considering an offer for Vodafone. This is a statement to which Rule 2.8 of the UK Takeover Code (the "Code") applies."
https://www.marketscreener.com/quote/stock/LIBERTY-GLOBAL-PLC-13450308/news/Liberty-Global-Acquires-4-92-Interest-in-Vodafone-42974366/
"Mehmeh... That's why there's no threshold RNS, it's a spread bet lol"
I assume that was tongue in cheek? The most likely reason is that the RNS hasn't landed with the London Stock Exchange yet.
Nasdaq price equates to about 95p at the moment, so looking good.
Mehmeh... That's why there's no threshold RNS, it's a spread bet lol
56,308,261 share traded in UT and a jump to 94p closing price.
GBP225 million to buy 1.335 billion shares. Almost 4x leverage
Cheers, but I don't believe his reason for jumping in, I think something much bigger is in the pipeline; Time will tell.
ADR up 4.8% at the moment
'U.S.-listed shares of Vodafone Group PLC climbed 2.4% in midday trading Monday, after media company Liberty Global PLC said it has acquired a 4.9% stake in the U.K.-based telecommunication services company. Liberty said the purchase of the 1.335 billion shares of Vodafone was funding through a financing that required equity funding of about GBP225 million ($272.8 million). Liberty indicated its interest in Vodafone is as a passive investors, as it does not intend to seek seats on Vodafone’s board of directors, and that it isn’t considering making a buyout bid for the company. Liberty’s more-active Class A shares shed 0.4% in midday trading. Vodafone’s stock has lost 8.5% over the past three months while Liberty shares have tacked on 3.3% and the S&P 500 has advanced 3.4%.'
https://www.msn.com/en-us/money/companies/vodafone-stock-surges-after-liberty-media-discloses-49-stake/ar-AA17r0D8
Here is a cut and paste for you Fleccy
Liberty Global, the US group chaired by “cable cowboy” John Malone, has bought a nearly 5 per cent stake in Vodafone, as it bets that forthcoming deals and restructuring will revive the beleaguered UK telecoms group.
Denver-based Liberty Global has acquired 1.3bn shares, representing 4.92 per cent of share capital, financed mostly through derivatives, and requiring only £225mn in equity funding from the group. The company said it would not seek a board seat and confirmed that it was not considering an offer for Vodafone.
“The stock’s cheap — it’s an opportunistic and financial investment,” Liberty Global’s chief executive Mike Fries told the Financial Times, adding that his company had $3.5bn in cash to “put to work”.
Fries said Vodafone had some “interesting catalysts” for potential value creation, including a proposed merger with CK Hutchison’s British business Three UK, for which talks are still ongoing.
“We only [operate in] one market with four mobile players — everyone else has consolidated to three — Ireland, Belgium, Holland, Switzerland. The UK is an anomaly,” he said. “We’re patient. We don’t know that any one or two things will happen overnight but we understand the publicly disclosed strategy and we think it’s a good one.”
Two extensions to UT.
"and is confident of a merger with regards to 3 mobile as telecoms in Europe consolidate"
I can't see the article, as it's behind the paywall, but the odds of OFCOM allowing a merger between Vodafone and 3 are very very low, in my opinion. If OFCOM did allow the merger, it would reduce the number of mobile providers from four down to three, and may even result in competitors taking OFCOM to court. The merger between VM/O2, and the merger between BT/EE, were fixed line merging with mobile, whereas a VOD/3 merger would be different.
I'm invested in Vodafone, so anything that improves the share price is good as far as I'm concerned, but I don't see a VOD/3 merger being waved through. Flexing my speculative braincell, I still think something bigger is in the pipeline, maybe VOD merging with one of the big US telecom companies, with Malone being tipped off.
I didn't want Brexit & still think it was a mistake, but as has been said, it is time to move on & accept it. None so blind as those who still refuse to open their eyes & accept it.
No threshold RNS, still buying??
This just came through on IG Index - Liberty purchases almost 5pct of VOD - Malone is saying what we already know - VOD is cheap - he's larged it with almost 5pct and is confident of a merger with regards to 3 mobile as telecoms in Europe consolidate - for me this article is telling you all you need to know - in laymans terms load up
gla dyor etc
https://www.ft.com/content/1ef28c4f-24e9-4026-82ff-10e688c48842
hi fleccy, I agree 100% with you. I was having a go at another who keeps bringing up the Brexit word. For gods sake it's done and dusted and theres no going back , we just have to work with it and make it work for us long term.
"Jed - You need to open those eyes of yours mate & you think that Brexit has helped do you?"
Nobody cares about Brexit, it's done. None of the political parties are interested in holding another referendum, so the media should leave it alone and concentrate on other things. It really is pointless to bang on about something in the past, especially since we're unlikely to rejoin in our lifetimes. The people who can't let Brexit go, should book an appointment with a therapist since they're obviously obsessed.