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Davef24. So what do you think she should do? Lie to all, & talk up the sp. Her job is not to talk up the sp. Her job is to run vodafone the best way she can, & be honest the shareholders.
Todays announcement means that VOD are selling a non core part of their business for c25% of the entire market cap of the company. Bonkers. I recall in the dot com boom shares trading on astronomically high p/e's and market scribes observed this was the new norm. Well it wasn't. Vodafones p/e today is 2.04!!!!!!!!!!!!!!!!!!!! (is that enough exclamation marks?) when we revert to mean - which the share price will eventually). The rerating could be sharp and long - heres hoping.
"Is she talking about the Spanish unit or the whole group? Is this comment a hint for Nov results?"
She's clearly referring to Spain for only. Read it context, i.e. as a follow up comment to the previous sentence in the rns.
Looks like a justification for the sale.
Its a good move i was in arrecife for a week earlier this year there is a vodafone shop in a busy new shopping center, with 3 staff and i only saw 1 customer in store when we passed daily. high overheads low income
Nice add to my holding this morning. Will review in 5 years.
Newsid... in reply to your query here is a copy of a post of mine re the tie-up with three, from May of this year which explains(I think) why Vod is trying to extricate itself from Spain and tie up with three in the uk. Those are the two "challenging markets "
Reposted from 4th may
"This long-awaited development seems finally upon us and there are a couple of points worth making. First I expect that the parties have been in touch with UK authorities and have tacit agreement that the deal will be approved, there may be conditions but essentially it will IMV, be approved in its current form.
Second an examination of VOD's last annual accounts for FY 22 show that its international revenues were : Germany 30%(of total revenues) margin43%, UK 13% margin21%, Italy11%, margin33%, Spain10%, margin23%.......(sorry for the formatting- I have tried formatting tables on this site before and they come out unintelligible)
However, I hope it is clear that VOD make decent margins in Germany and Italy and much less so in the UK and Spain.......guess why they are planning to rationalise the UK market to one less player!!!"
Shes an idiot, never talk up VOD
What did she mean by:
“However, the market has been challenging with structurally low returns."
Is she talking about the Spanish unit or the whole group? Is this comment a hint for Nov results?
So vague from the CEO
Added this morning at 76.2p
gla dyor etc
Jax bows your chance and 1946. Both know it alls, do this share open up or down and the finish please??? Before 7:59 x
Finally some good leadership actions on the way to simplification and increasing profits. Spain looses £300m per year and has little to no growth due to regulations. Very good Omen of what’s to come to return our SP to 200p plus where it should be. (Looking forward to a higher SP in the medium term).
Put me down for 79.5
Oh look selling an asset to pay a dividend
Her comments have killed this share price yet again today.
However, the market has been challenging with
structurally low returns.
Finally, some action. Let's hope the market appreciates Margherita's efforts. God knows VOD shareholders deserve a break here. 🤞
See
https://www.londonstockexchange.com/news-article/VOD/sale-of-vodafone-spain/16188396
Vod will receive 5 bn euros , (4.1 bn cash plus 0.9bn Zegona prefs)
this long-awaited news is another step in simplifying and reducing Vod's mish-mash of holdings.
The net effect should be to reduce Vods enormous debt pile of 33bn euros by about 10%. all else equal that should reduce annual debt service costs by about 150-200 mill euros pa. Not enormous(last year's figs showed debt service costs of 1.7bn euros) but at least (at last?) heading in the right direction.
Effect on SP this am - who knows? but should be a positive if only for the recognition that current management are tidying up an unholy mess.
I hold, largely as a significant divi payer, may add.
Vod closing Sp 3rd Nov
Exil 74p
FredRubble 75.69p
Added to list
Closed...atb
BREAKINGVIEWS – Vodafone will struggle to get clean exit in Spain
14:13
(The author is a Reuters Breakingviews columnist. The opinions expressed are their own. Updates to add graphic.)
LONDON, Oct 30 (Reuters Breakingviews) – Vodafone’s boss Margherita Della Valle is cleaning up the sprawling 21 billion pound telecom group, but it’s a tough job. A potentially messy exit in Spain illustrates the point. Della Valle lacks an obvious partner in the country: local giant Telefónica is too big, while rivals Orange and MásMóvil are merging with one another. As a result, Vodafone may have found itself a potentially problematic counterparty for the Spanish business, which Della Valle has put under strategic review.
Zegona Communications , a London-listed cash shell run by former Virgin Media executive Eamonn O’Hare, is in talks to buy at least half of the Spain unit for an implied overall enterprise value of more than 5 billion euros, according to a Bloomberg report that cited people familiar with the matter. Local newspaper Expansión reported, citing market sources, that Zegona could buy all of the division’s equity – with the help of a debt package from Deutsche Bank , ING and UniCredit and a 900 million euro loan from Vodafone itself.
Both options could get messy. Tiny Zegona would have to borrow heavily to buy the whole thing, meaning it would be risky for Della Valle to remain exposed by lending to the buyer. A joint venture, meanwhile, would see a large chunk of the asset remain on Vodafone’s balance sheet until Zegona or another player could afford to buy it outright. That won’t help the parent group’s valuation much. Investors might be reassured that Della Valle is making things happen, but a clean break in Spain looks increasingly unlikely. (By Pamela Barbaglia)
Follow @Breakingviews on X Capital Calls – More concise insights on global finance:
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75.69 for me please. Thanks
Has the squeeze on your ballax started to hurt yet?
74p for me please Bob
Vod closing Sp 3rd Nov
Paul30 80p
Newsid 74.6p
Beo1 78.2p
Added to list
Entries by 12pm Mon Atb
78.2p for me. Sorry >£1 still a bit iff
Impressive results out today for AAF .
74.6 for me please