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: 68.96
Bid: 69.08
Ask: 69.12
Change: 0.26 (0.38%)
Spread: 0.04 (0.058%)
Open: 68.76
High: 70.10
Low: 68.60
Prev. Close: 68.70
VOD Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Woes deepen at Vodafone's India unit with industry "under stress"

Fri, 02nd Jul 2021 15:18

(Alliance News) - Woes are deepening for Vodafone Group PLC's India unit as it seeks more time to pay mobile network fees levied by the government, with creditor banks reportedly pleading with New Delhi to cut the firm some slack.

The debt-ridden joint venture has long been facing stiff competition in the market of 1.3 billion people from Bharti Airtel and Reliance Jio, which is owned by Asia's richest man Mukesh Ambani.

In a call to analysts Friday, Vodafone Idea said it has requested the Department of Telecommunications for a year's extension to pay INR82.9 billion, around USD1.1 billion, in mobile network fees due in April 2022.

The firm cited low tariff rates and other business environment challenges for its inability to generate sufficient cash from its operations.

"I think it is only reasonable to say to the government that they have to provide an extension to the moratorium until these pricing-related issues and the stress in the industry and the sector is removed," CEO Ravinder Takkar said. 

Indian banks with large outstanding loans to the firm have also reportedly written to the finance ministry expressing fears about a bankruptcy being triggered if the telecom operator is not granted relief on upcoming payments.

Vodafone Idea's total debt stood at INR1.86 trillion at the end of March 2021.

The company has been unable to meet its fundraising target of INR250 billion announced last September, with investors reluctant to lend to the cash-strapped firm.

Telecom firms have been struggling to survive ever since the 2016 launch of rival company Reliance Jio sparked a brutal price war, with Ambani promising Indians dirt-cheap internet and free calls.

"I think the biggest hurdle is that the overall industry is under stress because of the pricing situation," Takkar said, echoing comments by Sunil Mittal, the billionaire chairman of Bharti Airtel.

"To say the telecom industry is in a bit of trouble is an understatement," Mittal told reporters Thursday.

"It is in a tremendous amount of stress," he said, calling on the government to set a minimum guaranteed price for services to prevent firms from constantly undercutting each other.

Vodafone Idea is a partnership between British telecom major Vodafone and Indian conglomerate Aditya Birla.

On Wednesday, the firm reported a net loss of INR69.85 billion for the quarter ending March 2021.

Vodafone Idea's shares fell over 2.5% in Friday's trade. Over a quarter of the company's share value has been eroded in the last six months. Shares in Vodafone Group PLC rose 0.2% to 121.94 pence in London on Friday.

By Nivrita GANGULY

source: AFP

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
5 Feb 2024 08:22

Vodafone Group maintains 2024 guidance after third quarter growth

(Alliance News) - Vodafone Group on Monday said that its third quarter had shown sustained revenue growth in Europe and Africa, as the company reiterated its guidance for the full year.

Read more
5 Feb 2024 07:42

LONDON BRIEFING: Stocks expected to start week up slightly amid PMIs

(Alliance News) - Stocks in London are set to open slightly higher on Monday, ahead of a slew of purchasing managers' index readings.

Read more
5 Feb 2024 07:03

Vodafone struggles in Italy, Germany, but holds guidance

(Sharecast News) - Telecoms giant Vodafone held full-year guidance as it reported a fall in third-quarter service revenues, driven largely by declines in Germany.

Read more
31 Jan 2024 15:49

London close: Stocks mixed ahead of US Fed, BoE decisions

(Sharecast News) - London's financial markets finished with mixed performance on Wednesday, with investors closing their wallets ahead of rate announcements from both the US Federal Reserve and the Bank of England.

Read more
31 Jan 2024 11:18

TOP NEWS: Vodafone rejects revised Iliad proposal for Italian merger

(Alliance News) - British telecommunications company Vodafone Group PLC turned down a revised merger proposal from French telecommunications company Iliad for the Italian subsidiaries Iliad Italia and Vodafone Italia, Iliad SA announced on Wednesday.

Read more
31 Jan 2024 09:21

LONDON BROKER RATINGS: Jefferies raises Spirax-Sarco; cuts Victrex

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

Read more
31 Jan 2024 08:06

Vodafone rejects revised Iliad offer to merge Italian businesses

(Sharecast News) - Iliad said on Wednesday that Vodafone had rejected its revised offer to merge the two companies' Italian businesses.

Read more
29 Jan 2024 16:00

UK earnings, trading statements calendar - next 7 days

Tuesday 30 January 
Diaceutics PLCTrading Statement
Diageo PLCHalf Year Results
Kromek Group PLCHalf Year Results
Luceco PLCTrading Statement
Oxford Cannabinoid Technologies Holdings PLCHalf Year Results
Pets at Home Group PLCTrading Statement
Renewi PLCTrading Statement
Saga PLCTrading Statement
SSP Group PLCTrading Statement
SThree PLCFull Year Results
Synthomer PLCTrading Statement
Wednesday 31 January 
Aberforth Smaller Companies Trust PLCFull Year Results
abrdn Private Equity Opportunities Trust PLCFull Year Results
Ecora Resources PLCTrading Statement
GSK PLCFull Year Results
ITM Power PLCHalf Year Results
NWF Group PLCHalf Year Results
Thursday 1 February 
Airtel Africa PLCTrading Statement
AG Barr PLCTrading Statement
BT Group PLCTrading Statement
Cranswick PLCTrading Statement
Gem Diamonds LtdTrading Statement
Glencore PLCTrading Statement
JTC PLCTrading Statement
Rank Group PLCHalf Year Results
Shell PLCFull Year Results
TClarke PLCTrading Statement
Friday 2 February 
YouGov PLCTrading Statement
Monday 5 February 
Home REIT PLCTrading Statement
Porvair PLCFull Year Results
Trident Royalties PLCTrading Statement
Vodafone Group PLCTrading Statement
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
28 Jan 2024 19:32

Sunday newspaper round-up: NatWest, China, Vodafone

(Sharecast News) - The Chancellor is laying the groundwork for the sale of billons of pounds worth of shares in NatWest as soon as June. A contract to a market research company has been awarded to study the public's views, alongside a tender to public relations firms and advertising companies who would work on the marketing campaign. Nevertheless, sources inside the Treasury have played down recent speculation in the City that Jeremy Hunt might announce the decision in his 6 March budget. The sale was expected to be priced at a discount. - The Sunday Times

Read more
27 Jan 2024 08:17

UK strikes Vodafone deal after UAE stake national security fears

(Alliance News) - The UK government has reached an agreement with Vodafone Group PLC to address national security concerns related to a United Arab Emirates-backed telecoms group's stake in the company.

Read more
26 Jan 2024 17:02

LONDON MARKET CLOSE: Stocks up as Fed's preferred inflation read cools

(Alliance News) - Stock prices in London closed up on Friday, as investors predicted and responded positively to a cooling inflation read in the US.

Read more
26 Jan 2024 16:21

London close: Stocks finish higher as US inflation cools

(Sharecast News) - London's financial markets closed positively on Friday, as investors were buoyed by an optimistic consumer confidence survey and a lower-than-anticipated inflation reading from across the pond.

Read more
26 Jan 2024 14:54

UK took 'proportionate' steps over Vodafone's Abu Dhabi shareholder -minister

LONDON, Jan 26 (Reuters) - Britain said it had put in place "proportionate measures" to alleviate its national security concerns about the relationship between Vodafone and Abu Dhabi-based telecoms group e&, explaining its decision to approve the strategic partnership.

Read more
26 Jan 2024 13:29

UK dividends calendar - next 7 days

Monday 29 January 
J Smart & Co (Contractors) PLCdividend payment date
Mondi PLCex-dividend payment date
Tuesday 30 January 
no events scheduled 
Wednesday 31 January 
Albion Venture Capital Trust PLCdividend payment date
Amedeo Air Four Plus Ltddividend payment date
Artemis Alpha Trust PLCdividend payment date
Balanced Commercial Property Trust Ltddividend payment date
CT Private Equity Trust PLCdividend payment date
Doric Nimrod Air Three Ltddividend payment date
Doric Nimrod Air Two Ltddividend payment date
dotDigital Group PLCdividend payment date
DS Smith PLCdividend payment date
European Assets Trust PLCdividend payment date
Focusrite PLCdividend payment date
Lowland Investment Co PLCdividend payment date
Middlefield Canadian Income PCCdividend payment date
Mitie Group PLCdividend payment date
Shires Income PLCdividend payment date
Triad Group PLCdividend payment date
Thursday 1 February 
AEW UK REIT PLCex-dividend payment date
Albion Enterprise VCT PLCex-dividend payment date
Blackstone Loan Financing Ltdex-dividend payment date
British American Tobacco PLCdividend payment date
Capital Gearing Trust PLCex-dividend payment date
CC Japan Income & Growth Trust PLCex-dividend payment date
Coral Products PLCex-dividend payment date
Dunedin Income Growth Investment Trust PLCex-dividend payment date
Ecofin Global Utilities & Infrastructure Trust PLCex-dividend payment date
Edinburgh Investment Trust PLCex-dividend payment date
F&C Investment Trust PLCdividend payment date
Henderson International Income Trust PLCex-dividend payment date
Hollywood Bowl Group PLCex-dividend payment date
IG Group Holdings PLCex-dividend payment date
Impellam Group PLCex-dividend payment date
JPMorgan Emerging Europe Middle East & Africa Securities PLCex-dividend payment date
JPMorgan Global Core Real Assets Ltdex-dividend payment date
JPMorgan Mid Capital Investment Trust PLCex-dividend payment date
JPMorgan UK Smaller Cos Investment Trust PLCex-dividend payment date
M&G Credit Income Investment Trust PLCex-dividend payment date
Marwyn Value Investors PLCex-dividend payment date
Mercantile Investment Trust PLCdividend payment date
Merchants Trust PLCex-dividend payment date
Paragon Banking Group PLCex-dividend payment date
PayPoint PLCex-dividend payment date
Polar Capital Global Financials Trust PLCex-dividend payment date
Polar Capital Global Healthcare Trust PLCex-dividend payment date
Schroder Oriental Income Fund Ltdex-dividend payment date
SSP Group PLCex-dividend payment date
Starwood European Real Estate Finance Ltdex-dividend payment date
Treatt PLCex-dividend payment date
United Utilities Group PLCdividend payment date
WH Smith PLCdividend payment date
Friday 2 February 
Baillie Gifford European Growth Trust PLCdividend payment date
Bisichi PLCdividend payment date
BT Group PLCdividend payment date
Cardiff Property PLCdividend payment date
CT UK High Income Trust PLCdividend payment date
CT UK High Income Trust PLC - Class B dividend payment date
Diploma PLCdividend payment date
Dr Martens PLCdividend payment date
Experian PLCdividend payment date
Halma PLCdividend payment date
Jet2 PLCdividend payment date
Property Franchise Group PLCspecial dividend payment date
Qinetiq Group PLCdividend payment date
Severfield PLCdividend payment date
Thames Ventures VCT 1 PLCdividend payment date
Topps Tiles PLCdividend payment date
TwentyFour Income Fund Ltddividend payment date
TwentyFour Select Monthly Income Fund Ltddividend payment date
Vodafone Group PLCdividend payment date
Workspace Group PLCdividend payment date
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
26 Jan 2024 12:11

LONDON MARKET MIDDAY: China growth measures and LVMH lift mood

(Alliance News) - Stock prices in London were up at midday, with investors optimistic ahead of a key US inflation reading.

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.