Vodafone to offload €3bn of convertible securities to fund Liberty acquisition

(Sharecast News) - Vodafone was said to be gearing up to sell a minimum of €3bn worth of securities convertible into shares in order to help fund its acquisition of parts of Liberty Global's European businesses.The telco giant will work on the sale, which Bloomberg said could be announced as soon as Tuesday, with the likes of Bank of America, BNP Paribas, HSBC, JPMorgan Chase and Morgan Stanley.While Vodafone did not comment on the report, sources close to the matter also told Bloomberg the size of the deal could potentially increase based on investor demand.Vodafone agreed to acquire Liberty Global's German and Eastern European operations for $22bn back in May 2018, stating at the time that it would look to sell roughly €3bn of convertible securities to help fund the transaction.At the close on Monday, Vodafone shares were down 2.15% at 131.36p.