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Narcus.. A poor choice of words when you say WON the Mannesmann deal. ( Narrative Reversal) The biggest loss in history it has gone down as. Some complain about Nick Read, not a patch on that balls up!
Thanks danielh and Narcus for the facts. That was a bit before my time, in the midst of the "TMT" days and dotcom bubble. I started with Vodafone in late 2002.
Mind you, I certainly won't complain if we see those kinds of prices again!
ATB, Mike.
MikeM14 Vodafone shares were £3.55 on 1/3/1999. & £3.05 on 1/5/2000. to give just 2 examples. Those were the days my friend. When it sold verizon, the sp was about £2.50.
I remember it hitting 399 for a short while when Chris Gent won the Mannesmann deal
Rovernut,
Are you on the right share? When was it 280? I've been involved with Vodafone shares on and off for nearly 20 years, and I certainly don't remember it being anywhere near 280. I think the highest was just after it sold its part of Verizon, and that would only be in the low 200s.
Perhaps vod does need the money, but is holding out for a bigger offer?
Vodafone Rejects $13 Billion Italy Bid From Iliad, Apax
The U.K. carrier viewed Iliad’s bid as too low: sources
Iliad and Apax made offer for 100% of Vodafone Italia business
Vodafone Group Plc has rejected an offer from Iliad SA and Apax Partners LLP for its Italian unit, it said in a statement Thursday, after Bloomberg had reported the telecoms group was leaning toward spurning the bid.
Vodafone viewed the approach as too low, according to people familiar with the matter, asking not to be identified because the information is private. While Vodafone is keen to participate in any Italian consolidation, it believes the potential synergies that Iliad could extract from a combination would warrant a higher price, the people said.
Vodafone’s statement revealed that Iliad’s approach involved private equity firm Apax as a co-bidder. The proposal had valued the Italian operations of Vodafone at more than 11 billion euros ($12.6 billion), Bloomberg News previously reported.
The approach was “not in the best interests of shareholders,” Vodafone said without elaborating. “Vodafone continues to pragmatically pursue several value accretive in-market consolidation opportunities to deliver sustainable market structures in its major European markets, including Italy.”
Shares of Newbury, England-based Vodafone were up 0.7% at 1:52 p.m. in London, hitting the highest intraday level since May and giving the company a market value of about 37.9 billion pounds ($51.3 billion).
A representative from Iliad declined to comment on Bloomberg’s earlier report. The carrier confirmed on Tuesday it had made an offer for 100% of Vodafone Italia following a Bloomberg report. It didn’t provide financial details.
Fierce Competition
Vodafone is looking for merger opportunities in the U.K., Spain, Italy and Portugal, Chief Executive Officer Nick Read said last week. His comments came after activist investor Cevian Capital AB built up a stake in the telecom operator and began lobbying for changes.
Options to boost value at Vodafone could include consolidating its presence in key markets, selling some operations or pursuing stock buybacks, people with knowledge of the matter have said.
“Iliad’s reported 11 billion-euro offer for Vodafone’s Italian operation is too low, we think, to convince the carrier to exit a key market that accounts for 11% of sales,” said Bloomberg Intelligence analyst Erhan Gurses. “The price equates to 6.4x EV/Ebitda after leases vs. Vodafone’s 6.5x trading multiple and doesn’t reflect a fair share of significant
Vodafone doesn’t need the money
That says a lot to those who keep saying
“Voda has too much debt”
ANNOUNCEMENT REGARDING VODAFONE ITALY
Vodafone Group Plc ("Vodafone") confirms it recently received a highly preliminary, non-binding indication of interest from Iliad S.A. ("Iliad") and Apax Partners LLP ("Apax") to acquire 100% of Vodafone Italy (the "Preliminary Indication of Interest").
Vodafone confirms it has rejected the Preliminary Indication of Interest, as it is not in the best interests of shareholders.
The Board and management of Vodafone remain focused on delivering shareholder value through a combination of its organic growth strategy over the medium-term and ongoing portfolio optimisation. Vodafone continues to pragmatically pursue several value accretive in-market consolidation opportunities to deliver sustainable market structures in its major European markets, including Italy.
https://www.bloomberg.com/news/articles/2022-02-10/vodafone-said-to-mull-rejection-of-iliad-s-13-billion-italy-bid
The U.K. carrier views Iliad’s initial bid as too low, the people said, asking not to be identified because the information is private. While Vodafone is keen to participate in any Italian consolidation, it believes the potential synergies that Iliad could extract from a combination would warrant a higher price, the people said.
Only down 50% now??
I'm starting to suffer from Vertigo
Nice....bought in @£1.06 a while back. Healthy paper profit but will not be selling anytime soon...come on Vod more M&A, consolidation etc to propel SP higher.....maybe a bit greedy now...haha...ATB to LTH.
hold for continuing divis and sit on the capital appreciation or dump them and by something else with a 4/5% divi.... like GSK, NG etc
Personally, I got in circa 114 over 12 months ago, seen it get to 140 and retreat, think this might be a continued rise to 160 + but I dont want to see 110 again, although even when it dipped I had collected two divi payments.
These of course could be a hold forever, but with the large debt pile a divi cut could always be lurking.
DYOR
Yes, will come to my magic number 141.
Planned to sell some at 141p last year when it's 110p, but obviously need to change the plan, probably start selling at 240p now :)
'there she blows'
Keeps tickling the £1.40 - come on Voda feel the force and move above it
https://www.thetimes.co.uk/article/ofcom-open-to-vodafone-three-deal-jr9jz55rv
177 far too low. Start with a 2 3 or 4 and then perhaps
GLTader. I think a realistic value of vod is £1.77 as you suggested ,on todays situation, , but the brokers have been coming up with 1.60 to 2.30 for years now. so forget the past & look to the future! £1.77 + Of course £2 is possible? & for me? In profit at last!! Only just?
Hi rob, That's the story of my life, Narrative Reversal, Problem is, I can't remember what my Narrative was in the 1st place??!
Hi Dan, so you would like to do a Narrative Reversal of your previous guess ?, no problem everyone else seems to be doing it, going to keep mine as it is, so it will go beyond my expectations, -:)
Hi rob. I will do a moneyboy & predict a 1.44 Friday close. Cheating of course?
https://www.telcotitans.com/vodafonewatch/vodacom-eyeing-mpesas-biggest-money-transfer-yet/3081.article
This article indicates that M-Pesa, the payment system of Africa could be worth upwards of $10b should it be decided to monetise it.
M-peas is a joint venture between Vodacom(64% owned by VOD) and Safaricom (40% owned by VOD) which makes VODs share worth $5b+