focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar 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: 77.70
Bid: 77.68
Ask: 77.72
Change: 1.60 (2.10%)
Spread: 0.04 (0.051%)
Open: 76.28
High: 77.86
Low: 76.24
Prev. Close: 76.10
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 4-UK to purge Huawei from 5G by 2027, angering China and pleasing Trump

Tue, 14th Jul 2020 08:45

* UK to purge Huawei from 5G by 2027

* No new 5G components to be bought from end of 2020
(Adds quotes, background)

By Paul Sandle and Guy Faulconbridge

LONDON, July 14 (Reuters) - Prime Minister Boris Johnson
ordered Huawei equipment to be purged completely from Britain's
5G network by 2027, risking the ire of China by signalling that
the world's biggest telecoms equipment maker is no longer
welcome in the West.

The seven-year lag will please British telecoms operators
such as BT, Vodafone and Three, which
had feared they would be forced to spend billions of pounds to
rip out Huawei equipment much faster. But it will delay the roll
out of 5G.

The United States had long pushed Johnson to reverse a
decision he made in January to grant Huawei a limited role in
5G. London has also been dismayed by a crackdown in Hong Kong
and the perception China did not tell the whole truth over the
coronavirus.

Britain's National Security Council (NSC), chaired by
Johnson, decided on Tuesday to ban the purchase 5G components
from the end of this year and to order the removal of all
existing Huawei gear from the 5G network by 2027.

The cyber arm of Britain's GCHQ eavesdropping agency, the
National Cyber Security Centre, told ministers it could no
longer guarantee the stable supply of Huawei gear after the
United States imposed new sanctions on chip technology.

Telecoms companies will also be told to stop using Huawei in
fixed-line fibre broadband within the next two years.

"This has not been an easy decision, but it is the right one
for the UK telecoms networks, for our national security and our
economy, both now and indeed in the long run," Britain's
Digital, Culture, Media and Sport Secretary Oliver Dowden told
parliament.

"By the time of the next election, we will have implemented
in law, an irreversible path for the complete removal of Huawei
equipment from our 5G networks."

In what some have compared to the Cold War antagonism with
the Soviet Union, the United States is worried that 5G dominance
is a milestone towards Chinese technological supremacy that
could define the geopolitics of the 21st century.

With faster data and increased capacity, 5G will become the
nervous system of the future economy - carrying data on
everything from global financial flows to critical
infrastructure such as energy, defence and transport.

After Australia first recognised the destructive power of 5G
if hijacked by a hostile state, the West has become steadily
more worried about Huawei. https://www.reuters.com/investigates/special-report/huawei-usa-campaign/

White House national security adviser Robert O'Brien is
meeting representatives of France, the UK, Germany and Italy in
Paris this week to discuss security, including 5G.

The West is trying to create a group of rivals to Huawei to
build 5G networks. Other large-scale telecoms equipment
suppliers are Sweden's Ericsson and Finland's Nokia
.

END OF 'GOLDEN ERA'?

Hanging up on Huawei, founded by a former People's
Liberation Army engineer, marks the end of what former Prime
Minister David Cameron cast as a "golden era" in ties, promoting
Britain as Europe's top destination for Chinese capital. Cameron
toasted the relationship over a beer with President Xi Jinping
in an English pub, which was later bought by a Chinese firm.

Trump, though, has repeatedly asked London to ban Huawei
which Washington calls an agent of the Chinese Communist state -
an argument that has support in Johnson's Conservative Party.

Huawei denies it spies for China and has said the United
States wants to frustrate its growth because no U.S. company
could offer the same range of technology at a competitive price.

China says banning one of its flagship global technology
companies would have far-reaching ramifications.

In January, Johnson defied Trump by allowing what he called
high-risk companies' involvement in 5G, capped at 35%.

(Additional reporting by William James; Writing by Paul Sandle
and Guy Faulconbridge
Editing by William Maclean and Peter Graff)

More News
21 Dec 2023 06:58

LONDON MARKET EARLY CALL: London to follow NY and Tokyo into red

(Alliance News) - Stocks in London are set to open lower on Thursday, returning some of Wednesday's gains that followed a surprisingly tame UK inflation reading.

Read more
20 Dec 2023 19:56

PRESS: Swisscom weighs up offer for Vodafone's Italian business

(Alliance News) - Swisscom AG is weighing an offer for Vodafone Group PLC's Italian business early next year, potentially countering a rival bid from Iliad SA for the unit, Bloomberg reported, citing people familiar with the matter said.

Read more
20 Dec 2023 08:48

LONDON MARKET OPEN: Stocks feeling festive on UK, US rate cut hopes

(Alliance News) - Stock in London enjoyed a broad-based rally at Wednesday's open, as a surprise UK inflation print boosted risk sentiment, with investors pinning their hopes on UK and US interest rate cuts next year.

Read more
19 Dec 2023 06:00

Safaricom's Ethiopia struggle deters potential telecoms investors

Telecoms sector once seen as key prize in liberalisation drive

*

Read more
18 Dec 2023 17:36

European shares ease as ECB officials temper rate cut optimism

Germany to end e-vehicle subsidy programme

*

Read more
18 Dec 2023 17:21

Energy stocks lift UK's FTSE 100, Vodafone shines

Vodafone jumps as Iliad offers to merge Italian units

*

Read more
18 Dec 2023 16:35

Vodafone shares climb as Iliad proposes Italian merger

Vodafone is reviewing options for its Italian unit

*

Read more
18 Dec 2023 15:35

London close: Stocks make small gains in wake of rate decisions

(Sharecast News) - London stocks closed with minimal changes on Monday, following a week marked by significant central bank decisions.

Read more
18 Dec 2023 11:50

LONDON MARKET MIDDAY: Stocks edge higher amid festive cheer

(Alliance News) - Stock prices in London were outperforming its European peers at midday Monday, after investors digested some hawkish comments from US Federal Reserve officials.

Read more
18 Dec 2023 10:43

UPDATE: Vodafone confirms eyeing merger or disposal of Italy business

(Alliance News) - Vodafone Group PLC on Monday confirmed it is "exploring options with several parties" to combine or sell its telecommunications operations in Italy.

Read more
18 Dec 2023 09:17

PRESS: France's Iliad prepares offer to combine with Vodafone in Italy

(Alliance News) - France's Iliad SA wants to finalise by the end of January a proposal to Vodafone Group PLC to combine their telecommunications operations in Italy, Reuters reported late Friday.

Read more
18 Dec 2023 09:07

LONDON MARKET OPEN: FTSE 100 edges higher as Fed rally fades elsewhere

(Alliance News) - The FTSE 100 managed to eke out some minor gains at Monday's market open, while stocks elsewhere pulled back after last week's advance.

Read more
18 Dec 2023 08:52

Vodafone surges as Iliad proposes merging Italian businesses

(Sharecast News) - Vodafone confirmed on Monday that it is in talks with several parties about the potential merger or disposal of its Italian unit, after France's Iliad said it had submitted a proposal to merge their two Italian businesses.

Read more
18 Dec 2023 08:05

Iliad invites Vodafone to merge their Italian operations

PARIS, Dec 18 (Reuters) - Iliad said on Monday it had submitted a proposal to Vodafone to merge their Italian businesses, adding this project had the unanimous support of its board of directors.

Read more
18 Dec 2023 07:59

Iliad invites Vodafone to merge their Italian operations

PARIS, Dec 18 (Reuters) - Iliad said on Monday it had submitted a proposal to Vodafone to merge their Italian businesses, adding this project had the unanimous support of its board of directors.

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.