PYX Resources: Achieving volume and diversification milestones. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksVodafone Share News (VOD)

Share Price Information for Vodafone (VOD)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 77.18
Bid: 77.30
Ask: 77.34
Change: -0.34 (-0.44%)
Spread: 0.04 (0.052%)
Open: 77.76
High: 78.74
Low: 77.02
Prev. Close: 77.52
VOD Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-Motor racing-F1 sponsors show limited appetite for Bahrain GP

Fri, 12th Apr 2013 14:07

* Abu Dhabi overtakes Bahrain as destination for F1 sponsors

* Bahrain is big payday for the sport

* Local organisers say ticket sales up on last year

By Keith Weir

LONDON, April 12 (Reuters) - Companies who help to bankroll Formula One motor racing are limiting their involvement in the Bahrain Grand Prix this month, saving some of their marketing dollars for less politically sensitive races.

The grand prix was cancelled in 2011 following a bloody crackdown on a pro-democracy uprising, but sponsors were left squirming last year when the sport's rulers ignored calls by campaigners in Bahrain and abroad for teams not to race, while police and youths staged nightly clashes with teargas and petrol bombs.

The race on April 21 will again draw attention to the human rights situation in the Gulf island kingdom. Taking a pragmatic approach, many sponsors will make the Abu Dhabi Grand Prix in November the focus for their Formula One promotional activities in the Middle East this year.

"Abu Dhabi has taken a lot away from Bahrain. Notwithstanding the trouble in Bahrain, the Abu Dhabi race is more interesting for sponsors," said Jim Wright, a sponsorship consultant who worked in the sport for 18 years.

Bahrain was the first Middle East country to host a grand prix in 2004, but Abu Dhabi joined the calendar in 2009 with the Yas Marina circuit, lavish even by Formula One standards.

"The timing at the end of the year is also an advantage for Abu Dhabi," added Wright. "Now, it's starting to be spring (in Europe), and sponsors have an opportunity to take people to races in Barcelona and Monte Carlo next month," he added.

Bahrain has been hit by unrest since pro-democracy demonstrations in early 2011, inspired by the broader regional "Arab Spring" protests that to date have forced rulers from power in Tunisia, Egypt, Libya and Yemen.

Critics say staging the race hands a propaganda boost to Bahrain's rulers, though last year's, despite dressing itself in the slogan "UniF1ed", was seen as a public relations setback for the government, with television images of the unrest and heavy police presence broadcast around the world.

Thomson Reuters, a partner of the Williams Formula One team, said it would not have any branding at the race in Bahrain. The company gave no further details.

Another two brands will be missing from the McLaren team at the Sakhir desert circuit in Bahrain, though both the companies involved say this is for operational reasons.

Diageo says its Johnnie Walker whisky brand will not be on display because of local cultural sensitivities about alcohol.

"In common with other Grands Prix in Muslim countries and elsewhere, for the Bahrain race we had always planned to respect local customs and laws and not to activate Johnnie Walker branding on the cars or drivers," a Diageo spokeswoman said.

Vodafone, which also sponsors the McLaren team, said logos of its Middle East partner Zain would feature on the team's cars and driver uniforms in Bahrain rather than its own brand.

This was a commercial decision rather than a political one, said Vodafone, which is ending its sponsorship of the team at the end of the season.

BIG PAYDAY

Formula One, built into a hugely successful business by Briton Bernie Ecclestone over the past four decades, makes most of its money from fees paid by venues to host races and from television rights.

Bahrain pays an estimated $40 million annually to be part of the 19-race calendar, making it a valuable fixture for the sport. Ecclestone said last week he had no concerns about the race this year after Bahrain's opposition and government resumed reconciliation talks in February.

The CEO of the Bahrain International Circuit also struck a bullish note after a race held against a backdrop of half-empty stands last year.

"Ticket sales, for example, are way above last year's ticket sales, so there are positive signs there," Sheikh Salman bin Isa Al Khalifa told Reuters.

"This is a big thing for Bahrain, and at the same time it puts the Kingdom of Bahrain on the map of the world," he added.

The race itself is sponsored by Gulf Air, Bahrain's national carrier, which is part of the portfolio of its sovereign wealth fund Mumtalakat. The fund also owns a stake in the McLaren team.

Corporate guests attending Formula One races get a chance to rub shoulders with drivers like world champion Sebastian Vettel and Lewis Hamilton in the paddock area behind the pit lane, enjoying gourmet food and the best seats in the house.

That comes at a price. Weekend hospitality packages for Bahrain are available online for more than 2,800 pounds ($4,300)($4,300), including free ear plugs. There have been few takers, according to industry sources in Britain.

Caution seems to be the unspoken word among sponsors, normally keen to talk up their involvement with the sport.

Oil company Shell, a sponsor of the famous Italian Ferrari team, said its involvement in Bahrain would be the same as last year, sending only three technical analysts to provide support on fuel and lubricants.

Swiss bank UBS, a global sponsor of Formula One, will not host any clients in Bahrain, focusing its hospitality in the region on the race in Abu Dhabi.

More News
23 Aug 2023 17:43

Zelenskiy vows to end Russian occupation of Crimea, defends strategy

Zelenskiy hosts conference in Kyiv on Crimea

*

Read more
16 Aug 2023 13:24

Safaricom launches M-Pesa mobile money service in Ethiopia

ADDIS ABABA, Aug 16 (Reuters) - Safaricom's M-Pesa mobile money service went live in Ethiopia on Wednesday, in a boost to the Kenyan telecoms operator as it seeks to kickstart growth in one of Africa's biggest economies.

Read more
16 Aug 2023 09:29

LONDON BROKER RATINGS: RBC cuts Antofagasta; Shore likes Trainline

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

Read more
15 Aug 2023 17:00

South Africa's MTN looks to unlock hidden value with stake sales

JOHANNESBURG, Aug 15 (Reuters) - The CEO of South Africa's MTN Group said on Tuesday he plans to bring in minority partners in fintech and fibre and then list the businesses as separate entities to reach a market capitalisation of more three times its net asset value (NAV).

Read more
7 Aug 2023 09:14

LONDON BROKER RATINGS: JPMorgan lifts Rolls-Royce; RBC cuts Unite

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

Read more
3 Aug 2023 14:41

'Black swan event': Telefonica Deutschland extends losses on lost Vodafone deal

Read more
3 Aug 2023 13:19

IN BRIEF: James Fisher hires new CFO from Johnson Matthey

James Fisher & Sons PLC - Barrow In Furness, Cumbria-based marine services - Hires Karen Hayzen-Smith to be chief financial officer, starting by December 1. At that time, Duncan Kennedy will step down as CFO and from the board but will remain at James Fisher for a short transition. Hayzen-Smith currently is director of group finance at chemicals firm Johnson Matthey PLC. She has been in that role since January 2020 and also served as interim CFO for Johnson Matthey from November of that year to April 2021. Prior to Johnson Matthey, Hayzen-Smith worked at Babcock International Group PLC and Vodafone Group PLC.

Read more
2 Aug 2023 17:04

Surprise US debt downgrade knocks European stocks to two-week lows

STOXX 600 off 1.4%Fitch US downgrade sparks risk-off mood

*

Read more
2 Aug 2023 16:39

UAE's e& offers to increase stake in Vodafone to 20% - e& CEO to CNBC Arabia

DUBAI, Aug 2 (Reuters) - UAE's e& EAND.AD CEO Hatem Dowidar told CNBC Arabia on Wednesday his company was seeking to increase its stake in Vodafone to 20%.

Read more
2 Aug 2023 16:39

United Internet shares surge on Vodafone deal with 1&1

(Sharecast News) - Shares in United Internet surged on Wednesday after its majority-owned German mobile and broadband provider 1&1 agreed agreed a deal for Vodafone to provide 5G coverage to its customers, in a move that would see it replace Telefonica Deutschland.

Read more
2 Aug 2023 16:31

UAE's e& seeking to raise Vodafone stake to 20% - e& CEO to CNBC Arabia

DUBAI, Aug 2 (Reuters) - UAE's e& CEO Hatem Dowidar told CNBC Arabia on Wednesday his company was seeking to increase its stake in Vodafone to 20%.

Read more
2 Aug 2023 15:08

Germany's 1&1 switches to Vodafone for 5G network deal

LONDON, Aug 2 (Reuters) - German mobile and broadband provider 1&1 said it had agreed a deal for Vodafone to provide 5G coverage to its customers, ousting current network partner Telefonica Deutschland by October 2024 at the latest.

Read more
2 Aug 2023 13:13

Vodafone boosted by 1&1 5G network deal in Germany

LONDON, Aug 2 (Reuters) - Vodafone said on Wednesday it had agreed a long-term, exclusive national roaming partnership deal to provide 5G mobile coverage to 1&1's customers in Germany, in a deal which it said would be cashflow accretive from its 2026 financial year.

Read more
2 Aug 2023 12:21

TOP NEWS: Vodafone inks national roaming agreement with 1&1 in Germany

(Alliance News) - Vodafone Group PLC on Wednesday said that Vodafone GmbH and 1&1 Mobilfunk GmbH have agreed a long-term national roaming partnership.

Read more
1 Aug 2023 07:50

LONDON BRIEFING: Stocks called down; BP launches share buyback

(Alliance News) - Stocks in London are set to open marginally lower on Tuesday, amid of a slew of economic data across the globe.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.