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I will be happy with a dividend being declared.
Vantage sale reducing some debt and increasing cash would be a bonus.
Cevian sold most of its stake at the end of june. Looking at their strategy on their website they probably had c0.5% stake.
VOD got a better agitator/investor when Niel subsequently came on board with 2.5% stake.
Lots of postives too...'
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https://www.ft.com/content/4be57a17-216f-43b0-b616-c972266f39bc
Recent activity suggests Read is making good on his ambition to pursue deals. In August, Vodafone agreed to sell its Hungarian business for $1.8bn and earlier this month confirmed it was in advanced talks with CK Hutchison, owner of Three, to combine their UK businesses and create the biggest mobile operator in Britain. It also announced a deal to buy MasMovil’s telecoms assets in Portugal, and hired bankers to help look at selling its broadband business in Spain.'
...and of course Vantage at the right price could also be a white swan event any time soon...15 November ideally. Chin up chaps!
Hi Dan, I agree not a good time for selling it may drop lower of course, ok vod sp is looking pretty bad right now, but what isn't guys? every share/fund/investment trust is struggling with me right now, just a pretty awful time for the stock markets at the moment with rising inflation and interest rates, not to mention the fuel and energy costs, if interest rates rise anymore will it be worth investing in the stock market if you can get around 5% in a savings account with guaranteed no loss of capital, if your already invested though think it's going to be a long waiting game to see any meaningful rise in share prices, just hoping all the dividends are paid in full for now, and re-invest where i can see the best value
all just my personal opinion of course, if anyone knows what is doing really well, please let me know
GLA
The reason Cervian has sold a lot of it's holding in vod, " is due to the changes in the economic environment including indications that interest rates would rise, reducing the chances vodafone would be able to secure favourable deals" (Taken from the article) Cervian obviously did not predict this when they built there stake in vod, & nor did most, including Nick Read. So I would like to point out, this is not Nick Read's fault, & sacking him would not be the answer, any more that sacking Boris was the answer. (no I don't want to get into politics) but before your sack anybody, you need to be sure the replacement is better, & there B.O.D. , or cabinet!
there u go now we know the big drop. Wont be surprised if UAE left too.
Sorry not sure link worked
Cevian slashes Vodafone stake as investors call for faster change
Frustration grows as share price of telecoms group continues to decline despite prospect of deals
One major investor is unimpressed with Nick Read, saying the Vodafone chief executive has ‘been there for a long time?.?.?.?and he has not transformed the business’
Europe’s largest activist investor Cevian Capital has slashed its stake in Vodafone as scepticism grows that the UK-based telecoms group will be able to reverse its sluggish performance amid a challenging economic backdrop.
Cevian built a significant but undisclosed position in the FTSE 100 group last year through shares and derivatives, becoming one of the 10 largest shareholders according to people familiar with the matter. It was pushing for management to simplify the group’s sprawling international portfolio and sell poorly performing divisions.
However the activist investor sold the vast majority of its stake by the end of June, the people said, due to changes in the economic environment including indications that interest rates would rise, reducing the chances Vodafone would be able to secure favourable deals.
Vodafone has shed nearly 25 per cent of its value since then.
The group is looking at a series of deals across Europe but other investors have expressed impatience over the pace of change and prospects of its flagging share price being revived.
“Would management change be taken well? I think it would,” said one top 15 investor adding that chief executive Nick Read, who joined Vodafone in 2001 and took the top job in 2018, has “been there for a long time?.?.?.?and he has not transformed the business”.
Peter Schoenfeld, another shareholder and founder of New York-based hedge fund PSAM, said investors are “frustrated and fed up with Vodafone’s poor stock performance” and that “it’s very much a show me kind of situation now”.
“Read has committed to a strategy that he has so far failed to fulfil,” he added.
Short positions in the company — used by investors to bet that the share price will go down — peaked in May, with 10 per cent of the stock out on loan, according to S&P Global Market Intelligence. This has since dropped below 2 per cent.
But others are still betting the stock will rise. French telecoms billionaire Xavier Niel has built a 2.5 per cent stake in the group and
https://www.ft.com/content/4be57a17-216f-43b0-b616-c972266f39bc
Hello rob. It is a bit desperate at the moment, but I will just hold on. I think the general feeling is, vod is undervalued & selling at this low price, makes no sense to me, but I said that a while ago, so who knows, but if you panic sell, that is not a good idea? Cheers rob.
14th Oct results Closing Sp 99.66p
Doyen Dan 105.1p
Vodger 107.7p
Robina 91p
Tradevol 106.25p
Sontonspike 106p
Exil 102p
Newsid 98.8p
Wayzgoose 97.5p
Faicj 102.5p
Wm2020 98p
Roofer 99p
Where will next weeks winner be sat.... ATB
Sad to say, final salary pension beneficiaries dont live forever so there must be an actuarial adjustment going the other way where the schemes have been withdrawn. In the meantime public sector schemes apparently alive and well and in need of trusty investments like Vantage imho
Now we know why FTSE has been underperforming due to a lack of meaningful investments by the UK pension funds over the past 20 years.
https://www.dailymail.co.uk/news/article-11317867/Growing-fears-Gordon-Browns-pensions-timebomb-finally-explode.html
Hi Dan, lots of talk about deals etc. selling off their money-making assets to reduce debt seems an act of desperation, but if it will bump up the share price to £1.50 in the short term, i will be happy with that, expect you will as well, just hope it does turn out to be a good deal for Vodafone, we will just have to wait and see, let's hope it works in our favour
https://www.reuters.com/markets/europe/vodafone-advanced-talks-finalise-vantage-stake-sale-by-nov-15-sources-2022-10-14/
Vodafone in advanced talks to finalise Vantage stake sale by Nov. 15 - sources
By Pamela Barbaglia and Andres Gonzalez
The logo of Vodafone is seen on the facade of a store in Ronda
The logo of Vodafone is seen on the facade of a store in Ronda, Spain, October 3, 2022. REUTERS/Jon Nazca/File Photo
LONDON, Oct 14 (Reuters) - Vodafone (VOD.L) is speeding up talks with a handful of financial investors to sell a slice of its wireless towers unit as it hopes to agree a deal by Nov. 15 to coincide with its half-year earnings, two sources close to the matter told Reuters.
The British telecoms group is evaluating proposals to either halve its nearly 82% holding in Frankfurt-listed Vantage Towers (VTWRn.DE) or just sell 25% of it in a bid to free up cash and respond to activist pressure to shake up the company and improve profitability, the sources said, speaking on condition of anonymity.
Shares in Vantage Towers - which has a market value of 13 billion euros ($12.7 billion) - have dropped 18.3% since the start of the year. That makes it an attractive proposition for bidders - including a consortium of investment firms KKR (KKR.N) and Global Infrastructure Partners (GIP) - to invest in a recession-proof business at a discount, the sources said.
A spokesperson for Vodafone said the company had previously expressed its "preference to move to co-control and deconsolidate Vantage", adding in doing so Vodafone would be "pragmatic and value oriented", pursuing whatever solution was in the best interest of its shareholders.
Vantage and KKR declined to comment, while GIP was not immediately available for comment.
Vodafone's advisers have asked bidders to complete due diligence in the coming weeks and submit binding bids in November, the sources said, cautioning a deal was not certain and the timeframe might still slip.
KKR, which earlier this year missed out on a deal for Deutsche Telekom's (DTEGn.DE) towers, has revamped its alliance with GIP to make a joint offer and plans to leverage on the experience that both funds gained while working on the Deutsche Telekom auction, which was won by Canada's Brookfield and U.S. private equity firm DigitalBridge.
Brookfield and DigitalBridge are still focused on completing the Deutsche Telekom deal and are not seen as suitable bidders, the sources said, with one adding the bidding field only included financial firms that have the balance sheet to secure financing for a large deal despite reluctance from most banks to stump up debt.
EQT has explored several to
You're paying for the bone! For that reason i prefer a bit of rump. Well done Roofer 103.69 for me next week please.
This weeks winner is sat in sunny Bodrum
Closing Sp 99.66p ( source iweb )
Accolade goes to Roofer 99p
Full list with follow...after tucking into t-bone steak...cheap as chips here with exchange rate.....Atb
Hello Gary. The Germans are on our side this time as far as vodafone goes, so come on Germany I say. Hello. Robleo. Perhaps you would like to run a Friday prophecy for how many commentaries we get? I just hope the batsman's not holden the bowlers willy. Have a good weekend all.
Well the ski slope has begun . It seems Voda is heading back down .
I can’t see vantage going helping with future profitability. They’ll have to pay to use the network they used to own.
The 3 merge will leave VOD with a smaller share of UK market. So less profit there.
Management are trying to distract investors with the promise of less debt. The best way would be to pay it down with the supposed FCF, unless of course it isn’t really free to use.
What will happen to future profits for Vodafone after they have sold off their assets, is it a good thing or not ?
Mikey {1966} - "And they (he) thinks it's all over"
Well vodafone up but struggling to do anything - no doubt it will start to slowly drop down yet again . Be lucky to finish above the dreaded £1 .
Fleccy, I think that's a great idea, mikey should comment every half hour, then we can compile it all together at the end of the day
Come on mikey you got plenty of time on your hands now, put more effort into it please
4% rise in US
Mikey you've got the Commentary gene. Are you auditioning to become the Barry Davies of the LSE Vodafone chat page? Just some of your game commentary:
"Oh dear just when you think it may be changing America data comes out and wallop - what a reversal
Well here we go - next stop 90p .
Looks like we could finish the week below £1
Usual 2.30 American drop I see . Ftse clawing its wqy back and Voda going in the opposite way.
Well that was short lived - back to the usual today - back towards sub £1 - well it was exciting
Well that didnt last long - all that excitement for a couple of minutes share price rise
Its Struggling to do anything this morning - just waiting for the usual drop back into the red , hopefully not though , we can always hope
Here we go - oh well it was nice for an hour seeing blue
Typical last half hour decline - going no where fast !!!!!
Of course the last 5 mins is going to send us into the red again - it is Vodafone after all - not allowed to stay on the Blue
Is it actually going to finish positive or do it usual drop down to close - a shame on a good day on the ftse
Ftse has steadily been rising all day and we have been steadily falling all day - at least we finished positive but pretty depressing really on the best Ftse day in a long time"
And the ref blows the whistle.
Oh dear just when you think it may be changing America data comes out and wallop - what a reversal