George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here

Less Ads, More Data, More Tools Register for FREE
George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’
George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’View Video
Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America
Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin AmericaView Video

Latest Share Chat

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: 69.08
Bid: 69.28
Ask: 69.30
Change: 0.08 (0.12%)
Spread: 0.02 (0.029%)
Open: 69.30
High: 70.00
Low: 69.08
Prev. Close: 69.00
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-Vodafone gets enough shares for $10 bln Kabel Deutschland takeover

Thu, 12th Sep 2013 19:55

* Vodafone says reached 75 pct threshold for takeover

* Says to unveil details of acceptance ratio on Monday

* Deal still needs EU regulatory clearance

* Deal would give Vodafone leg up in fragmented market

FRANKFURT, Sept 12 (Reuters) - Vodafone has securedenough shares in Kabel Deutschland for its 7.7billion euro ($10 billion) offer for Germany's largest cablecompany to succeed, Vodafone said on Thursday.

"The 75 percent minimum acceptance condition has been met,"Vodafone said in a statement on Thursday, adding that it wouldpublish details on Monday of the number of shares tendered.

Vodafone's 87.00 euro per share offer for Kabel Deutschland,which includes a 2.50 euro dividend payment, ended on Sept. 11.

The British company, which this month agreed the sale of itsstake in U.S. operator Verizon Wireless for $130 billion, wantsto buy Kabel Deutschland to offer more television and fixed-lineservices in Germany, its largest European mobile market.

Vodafone said Kabel Deutschland shareholders who had notaccepted the offer yet may be given an additional chance to doso between Sept. 17 and Sept. 30.

It also said the deal still needed regulatory clearance fromthe European Commission, with the completion of a first reviewexpected by Sept. 20.

STEALING A MARCH

So-called "quad-play" services offering TV, broadband,mobile and fixed-line telephony have caught on rapidly inmarkets such as France and Spain, but the largely fragmentedGerman cable market is still some way behind.

This means a deal for the cable company could enableVodafone to steal a march on rivals such as Liberty's UnityMedia and Deutsche Telekom.

With consumers wanting to watch TV and video on an array ofdevices, cable assets have become more attractive as they canprovide internet services at speeds often five times faster thancompeting services from traditional telecom companies.

Vodafone has said it expected synergies from the deal toexceed 300 million euros a year before integration costs, by thefourth full year following completion.

It also sees potential for revenue synergies of 1.5 billioneuros from cross-selling products and improved customer loyalty.

The deal values Kabel Deutschland at 12 times enterprisevalue against 2013 core earnings, a 35 percent premium to thesector. However, this falls to 8.5 times when taking intoconsideration the synergies Vodafone expects to extract,analysts have said.

The high price reflects the desire of the world'ssecond-largest mobile operator to adapt in its core market ofEurope, where increasing regulation and recession have hitrevenue and forced it to write down the value of its assets.

More News
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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:

Read more
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.

Read more
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.

Read more
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
22 Mar 2024 16:09

London close: Stocks mixed as Bailey hints at rate cuts

(Sharecast News) - London's stock markets closed in a mixed state on Friday as investors weighed optimistic retail sales data against remarks from Bank of England Governor Andrew Bailey.

Read more
22 Mar 2024 11:46

LONDON MARKET MIDDAY: FTSE 100 boosted after week of rate decisions

(Alliance News) - The FTSE 100 in London were higher at midday on Friday, as investor sentiment remained high, after there were no surprises from UK and US central banks this week.

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.