The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen 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: 74.08
Bid: 74.24
Ask: 74.28
Change: 0.58 (0.79%)
Spread: 0.04 (0.054%)
Open: 73.82
High: 75.00
Low: 73.48
Prev. Close: 73.50
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
27 May 2024 09:49

Vodafone to wire 120,000 flats in Germany for fibre optic service

(Alliance News) - Telecommunications firm Vodafone Group PLC has signed an infrastructure contract with one of Germany's largest housing companies to expand fibre-optic internet access to an additional 120,000 flats.

Read more
16 May 2024 11:26

Deutsche Telekom's strong Europe growth helps core earnings rise

May 16 (Reuters) - Deutsche Telekom reported first-quarter adjusted core earnings of 10.5 billion euros ($11.43 billion) on Thursday, with Europe a stand-out as the German telecoms operator highlighted growth across all of its segments.

Read more
16 May 2024 09:57

LONDON BROKER RATINGS: Barclays raises Travis Perkins to 'overweight'

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

Read more
15 May 2024 10:09

TOP NEWS: Vodafone commences EUR500 million share buyback programme

(Alliance News) - Vodafone Group PLC on Wednesday said it began a share buyback programme of up to EUR500 million, a day after saying it would begin a wider EUR2.0 billion scheme following Spanish authorities giving the green light to the planned sale of its Spanish business.

Read more
15 May 2024 09:22

LONDON BROKER RATINGS: JPMorgan puts B&M on 'negative catalyst watch'

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

Read more
15 May 2024 07:44

LONDON BRIEFING: Stocks set to see gains ahead of US inflation data

(Alliance News) - Stocks in London are called higher, as investors shrug off nerves ahead of a key US inflation reading.

Read more
14 May 2024 17:38

Vodafone reports 2% rise in annual profit after stronger final quarter

Core earnings rise 2.2%, meeting market forecasts

*

Read more
14 May 2024 17:20

London stocks edge higher after mixed jobs report

FTSE 100 up 0.2%; FTSE 250 adds 0.3%

*

Read more
14 May 2024 16:55

LONDON MARKET CLOSE: FTSE 100 up despite Powell's US inflation caution

(Alliance News) - London's FTSE 100 edged higher on Tuesday, shaking off a warning from Federal Reserve Chair Jerome Powell on inflation, as well as tensions between the US and China.

Read more
14 May 2024 16:40

London close: Stocks manage gains as unemployment rises

(Sharecast News) - London stocks closed higher on Tuesday, as investors analysed the latest UK jobs data and remarks from Bank of England chief economist Huw Pill.

Read more
14 May 2024 16:21

TOP NEWS: Vodafone to start share buyback after Spanish deal cleared

(Alliance News) - Vodafone Group PLC on Tuesday said it plans to kick off its EUR2.0 billion share buyback programme after Spanish authorities gave the green light to the planned sale of its Spanish business.

Read more
14 May 2024 12:07

LONDON MARKET MIDDAY: Stocks flat; BoE's Pill says summer cut possible

(Alliance News) - Stocks in London made muted progress on Tuesday, ahead of key US data, as a leading Bank of England economist suggested talk of a summer rate cut was not "unreasonable."

Read more
14 May 2024 10:47

TOP NEWS: Vodafone says more "to be done" after annual earnings beat

(Alliance News) - Vodafone PLC on Tuesday reported a return to growth in Germany, as it delivered full-year results slightly ahead of its expectations.

Read more
14 May 2024 09:52

LONDON MARKET OPEN: Stocks steady after soft jobs data; Vodafone stars

(Alliance News) - Stocks in London on Tuesday edged higher in early trading as soft jobs data boosted hopes of an interest rate cut in June.

Read more
14 May 2024 07:46

LONDON BRIEFING: UK wage growth above forecasts; Greggs sales rise

(Alliance News) - London's FTSE 100 index is called marginally lower on Tuesday, as the market awaits the release of key US economic data.

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.