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Ok it's been on the cards for some time, but incredible limp reaction to news of a merger for the mobile division. It has the potential to make a big difference to cost sharing and pricing - probably bad news for customers.
Knowing Vodafone it will be testing £1 again tomorrow - I hope not for all your sakes but come on - we all know what happens to the vodafone share price after a rise
>>The relative ownership would be achieved through a differential leverage contribution at closing, and no cash consideration will be paid.
In other words, VOD get 51% by taking on more of the debt.
Come on mole, stop talking in tongues, & explain what you mean? It obviously depends how much the joint venture is worth? I don't know how much, do you?
It's an extract from the RNS. To get 51% of the joint venture without paying out cash, they take on ownership of more of the debt than Hutchinson.
It's complex merger stuff I grant you.
Hi mole. I read the r.n.s.. I not sure why you think vod will take on more deb't though? They may do, but a differential leverage contribution at closing, doesn't mean that does it? I suspect it means as vod's deb't is probably more than Hutchinson's, it will remain so?
Doyen Dan your wishes are granted...as long as Vod sp/dividends and i dont fall im happy with that ..but are sure its not Dan Tummler ? , your a top gent and may SP keep rising ..atb
More details will emerge, but it involves debt somehow rather than cash, and VOD just has a way of attracting the stuff.
Guardian explanation is about the most thorough I can find
'The companies said there would be no cash component involved in the deal – Vodafone has twice the customer base of Three – with the relative ownership structure set to be achieved through a “differential leverage contribution” involving debt. Vodafone has about 18 million mobile subscribers compared with Three’s 9.3 million.'
Thanks mole for digging up that info! Perhaps Three will take on some off vod's massive deb't? In return for there almost 50% ownership. I assume this merger is just for the U.K. vod, not the whole of vod, so a very small amount? We could always just wait I suppose? But where is the fun in that?! Come on mole, cards on the table,are you tempted to buy? £2 shop ere we go. I wonder what the £1 shop man thinks? No, perhaps best not to ask??
Think I read 3 want VOD to use $6Bn for its 51%...
3 net assets at 31/12/2020 were c.£7.1Bn including c.£1.7Bn creditors (interco, lease liabilities etc)
My take is the merger is really about running the combined operation more efficiently as ARPUs under pressure and underpins VOD ability to continue to generate distributable fcf (dividends). I assume there will be mast sharing/ high street shop branding synergies/ savings etc
ARPU will get an uptick in april with inflation indexation..aimho
vodger. Of course the merger is about running the combined operation more efficiently. Can they do it? Who knows? I think/hope so. As long as they get there ARPUs right? Whatever the **** an ARPU is? Sounds good ?? I reckon if they & us all speak in plain English instead of a load of ARPU nonsense, that might help.
ARPU....average revenue per user
(REF ARPU) WDPTIPEIOTALOB. ? WTOO ?
Dan, that looks like a line from vogon poetry.
Dont forget lric and lrac. Long run incremental cost/ average cost
Vodger.....its this months Scrabble game, .....best i can get is ..........Taboo....5 letters
..dippable...8 letters
Well that was short lived - back to the usual today - back towards sub £1 - well it was exciting for a couple of days .
Negative idiot. 6 letters & 2 numbers
Usual 2.30 American drop I see . Ftse clawing its wqy back and Voda going in the opposite way.
vodger. What is the meaning of Vodafone, life, the universe, & everything? Better not ask deep thought, because you wont like the answer! I wonder if,(you know who), is a vogon poet with his torturous posts? F.T.S.E. up, vodafone down, when will they sack, Nick Read the clown?
42
Oh dear - forgot to login in and saw you know whos posts - complete @sshole 3 vowels 4 consonants
I hope that the posters on this board don’t lower themselves to the depths of other LSE chat forums with the insults etc. Every post is an opinion good or bad & we are all entitled to ours.
That being said VOD has been a god awful share to own for many, many years now & the SP doesn’t seem to be getting any better any time soon despite the influx of new overseas investors, merger talks etc. I go back to my previous posts that this is simply a dividend paying stock held by institutional investors who need to pay pensions etc.
Gary. So , do you not hold vod shares then? Hope you don't mind me asking.
danielh - I don’t mind being asked & I held for 12 years selling a fairly large holding in two sells at an average of 1.34 Feb, March this year. It took me years of trading & re-investing dividends to get to a decent profit. I watched this languish whilst my other shares did well & I set myself strict sell prices as I was fed up with the stagnation.
As for the here & now I am only investing for dividends & I will be investing back in VOD, although not to the scale as previously, when I get an understanding of how earnings are going. If I can decide before XD day then I shall commit. Meanwhile I will continue reading here with interest.