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Pin to quick picksVodafone Share News (VOD)

Share Price Information for Vodafone (VOD)

London Stock Exchange
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Share Price: 68.44
Bid: 68.40
Ask: 68.44
Change: 0.62 (0.91%)
Spread: 0.04 (0.058%)
Open: 67.96
High: 68.74
Low: 67.82
Prev. Close: 67.82
VOD Live PriceLast checked at -

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Goldman Sachs misses out on WhatsApp, 2014's top deals so far

Thu, 20th Feb 2014 20:16

By Nicola Leske

Feb 20 (Reuters) - WhatsApp? Not Goldman Sachs.

The world's top deal adviser for nine of the past 10 years,Goldman Sachs Group Inc has been notably absent on 2014'slargest mergers and acquisitions, including Facebook's $19billion deal to purchase mobile messaging service WhatsApp.

Normally the go-to-banker for big deals, Goldman has missedout on the top five transactions in the young year, according toThomson Reuters data. Facebook Inc relied on boutiqueinvestment firm Allen & Co to help with its offer to buy startupWhatsApp, which in turn chose Morgan Stanley.

The deal, announced on Wednesday, will earn the two banks upto $85 million in estimated fees, according to Freeman & Co LLC,a mergers and acquisitions advisory firm which researches thefinancial services industry.

Typically, Goldman Sachs starts out slowly and still land atthe top of the league tables by the end of the year. One bigtransaction can heavily sway bankers' rankings.

But Goldman has advised on only four of the top 20 dealsannounced this year so far, excluding CharterCommunications' attempt to buy Time Warner Cable.

Bankers also risk missing out on more big deals as companiesopt to use a small number of advisers, partly to reduce thechance of leaks and as chief executives lead the charge innegotiating deals themselves.

Goldman, which declined to comment on the deal data, backedCharter in what would have been the biggest deal of the year,but last week Comcast Corp agreed to buy Time WarnerCable for $45 billion.

If regulators approve the deal, other banks will share up to$143 million in fees the deal is estimated to generate, amongthem Goldman's biggest rivals JPMorgan Chase & Co and MorganStanley, according to Freeman & Co LLC.

Goldman Sachs was also absent from a number of other largedeals this year - Suntory Holding's acquisition of BeamInc for $13.6 billion and Actavis Plc's purchase of Forest Laboratories Inc for $25 billion.

That now puts Goldman Sachs in ninth place in the covetedleague tables for financial advisors, according to ThomsonReuters data.

Goldman Sachs has held the top position for the past tenyears with the exception of 2009, when it landed the number twospot behind Morgan Stanley.

Morgan also beat Goldman in the high-profile assignment toadvise Facebook on its initial public offering, which is notpart of deal league tables. Goldman later worked with TwitterInc on its IPO.

Last year, Goldman's role in Verizon Communication's $130 billion buyout of Vodafone Group's 45 percent stakein their joint venture easily catapulted it to the top rank. Thebank had advised Vodafone.

Facebook's founder and Chief Executive Mark Zuckerbergproposed the tie-up to WhatsApp's founder Jan Koum over dinneron Feb. 9, and the two sealed the deal 10 days later.

When it came to hammering out the details around Time WarnerCable, the two chief executives, Comcast's Brian Roberts andTime Warner Cable's Rob Marcus along with their respective CFOs,negotiated key points of the deal by phone as well as in-personmeetings, without relying much on advisers.

For the largest deal last year, all it took in the end was aworkout session in the gym followed by a breakfast, whenVerizon's CEO Lowell McAdam and Vodafone's Vittorio Colao agreedon a price that concluded in the mega deal.

More News
2 May 2024 07:03

Swisscom posts steady Q1 profit, says Vodafone Italia deal on track

May 2 (Reuters) - Telecoms group Swisscom reported a slightly lower first-quarter core profit on Thursday, but beat market expectations, as business in its core Swiss and Italian markets continued to develop positively.

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2 May 2024 06:35

Swisscom plans completion of Vodafone Italia takeover in Q1 2025

May 2 (Reuters) - Swiss telecoms group Swisscom said on Thursday its takeover of Vodafone Italia is on track and expected to be completed in the first quarter of 2025.

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16 Apr 2024 08:41

Vodafone appoints SAP's Marika Auramo as CEO of Business arm

(Alliance News) - Vodafone Group PLC on Tuesday said Marika Auramo has been appointed as chief executive of Vodafone Business.

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16 Apr 2024 07:46

Vodafone taps SAP executive to lead business division

(Sharecast News) - Vodafone announced the appointment of Marika Auramo as chief executive of Vodafone Business on Tuesday, effective from 1 July.

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4 Apr 2024 15:58

London close: Stocks manage gains ahead of US payrolls report

(Sharecast News) - London markets closed higher on Thursday, driven by a robust showing from the mining sector and as investors contemplated the UK services sector's latest figures.

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4 Apr 2024 08:47

LONDON MARKET OPEN: Shares rise despite US interest rate unease

(Alliance News) - London's FTSE 100 edged higher on Thursday morning, despite lingering US interest rate worries hanging over equities, while gold notched another record high in earlier trade.

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4 Apr 2024 07:43

LONDON BRIEFING: Vodafone-Three deal faces deeper UK probe

(Alliance News) - London's FTSE 100 is called to open higher on Thursday, despite remarks from Federal Reserve Chair Jerome Powell failing to soothe lingering interest rate worries.

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4 Apr 2024 07:37

CMA to launch in-depth probe into Vodafone's merger with Three

(Sharecast News) - The Competition and Markets Authority said on Thursday that it will launch an in-depth investigation into the planned £15bn merger between Vodafone and CK Hutchison's Three that was announced last year.

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28 Mar 2024 15:05

Directors dealings: Vodafone chairman follows in CFO's steps, buys shares

(Sharecast News) - Vodafone's chairman bought a big batch of shares in the telecommunications outfit just ahead of the Easter break.

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28 Mar 2024 13:54

IN BRIEF: Vodafone Chair Boxmeer buys GBP570,000 in shares

Vodafone Group PLC - Berkshire, England-based telecommunications provider - Chair Jean-Francois van Boxmeer buys 823,500 shares at GBP0.69 each, worth GBP568,215, in London on Wednesday.

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27 Mar 2024 09:40

LONDON BROKER RATINGS: Sainsbury's, Petershill Partners upped to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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26 Mar 2024 11:21

Vodafone Germany to cut 2,000 jobs in revamp

FRANKFURT, March 26 (Reuters) - Vodafone Germany aims to save around 400 million euros ($434.48 million) over the next two years as part of a restructuring that will hit some 2,000 jobs, the company said on Tuesday.

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26 Mar 2024 11:15

UPDATE: Vodafone Germany cuts 2,000 jobs as part of savings programme

(Alliance News) - Vodafone GmbH is cutting and relocating around 2,000 jobs in a bid to save EUR400 million in the next two years, the Dusseldorf, Germany-based subsidiary of Vodafone Group PLC announced on Tuesday.

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26 Mar 2024 10:43

Vodafone Germany: 400-mln-eur restructuring to affect 2,000 jobs

BERLIN, March 26 (Reuters) - Vodafone Germany said on Tuesday that it aims to save around 400 million euros ($434.48 million) over the next two years as part of a transformation programme that will affect some 2,000 jobs.

Read more
26 Mar 2024 10:42

Vodafone Germany cutting 2,000 jobs as part of savings programme

(Alliance News) - Vodafone GmbH is cutting and relocating around 2,000 jobs in a bid to save EUR400 million in the next two years, the Germany, Dusseldorf-based subsidiary of Vodafone Group PLC announced Tuesday.

Read more

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