Member Info for Android101

Perfect major investor, government that thinks in terms of gdp, islamic finance/ interest rates, next gen technology and emerging markets. If VOD has bottomed out, performance tracks gdp and interest rates, whilst a new CEO might put some fizz back in. Seems there is no shortage of cash in VOD and the BoD committed to 9 eurocents div per annum. Softening inflation and interest rates ought to see this track back to 120's, not in a straight line though LoL

According to this article , VOD paid $900m for its stake. No info on the telecel price I can see

https://www.ghanaweb.com/GhanaHomePage/NewsArchive/NCA-grants-conditional-approval-for-sale-of-Vodafone-Ghana-to-Telecel-Group-1696199

https://uk.news.yahoo.com/d-buy-300-vodafone-shares-161844685.html

interesting
https://www.modernghana.com/news/1206165/nca-approves-sale-of-majority-shares-in-vodafone.html

Thank you Roofer.
1st I would like to say my fear that all would not go well this week is in the past and I salute all those who have made this week not only a success but also a delight.
2nd I hope you will all join me in thanking those who prepared and served this excellent dinner, the staff of the kitchen and the LSE restaurant
3rd I would like to thank those who have contributed to the weeks events, Vladimer Putin, Christine Lagarde, Jerome Powell, Guttersnipe. For all, our thanks.
I would also like to send best wishes to those who are not here today but who have contributed much to LSE scholarship, Danielh, Longish, Fleccy, Gerry557, Newbie644, Char333, Mole-man99, Gary59.
And I would also like to thank those - which may include some among you here - who have contributed toward our ambition to reach 127p by 1st February and £2 by the end of the year.

With that I will hand back to Roofer and forecast 93.9p for Friday 20th
GLA

Underlying business strength
Attractive valuation
Juicy dividend
https://uk.news.yahoo.com/3-reasons-just-bought-vodafone-131301668.html

'What does it mean?'
... optimize the delivery of online display advertising and perform site/app optimization. Users will have access to a user-friendly privacy portal. They can review which brands and publishers they have given consent to, and withdraw their consent....
https://ec.europa.eu/competition/mergers/cases1/202302/M_10815_8844242_215_3.pdf

* or dry January :-(

'Why is BT keep rising and vod stagnant?'
Maybe VOD € exposure?

One of the reasons for regulation is to encourage innovation rather than cost cutting beyond those costs supporting an efficient market. Hutch probably doing the same as VOD in India and threatening to walk away. If the merger is waived through, I guess blocks of spectrum will be reallocated across the industry as a remedy and puts the industry/ market firmly on the hook for innovation and realising incremental profits from product development etc. That could be more of the same and a fudge if no innovation hence why the new CEO profile could indicate industry strategy vs VOD strategy. If he or she fires the starting gun for industrial IOT etc and has the business network to bring it, then we might see the SP rocketing with a few big deals whilst selling/ exiting a few non core assets.
Governments must want some big deals to drive confidence and projections of gdp etc?

Fleccy, thanks for all the research.
My understanding of the tax arguments revolve around where the economic value is, where the centre of management control is, where the service is provided and where the assets and operations are legally structured hence the debate over 'offshore and onshore' liability between different interest groups involved. I can understand the Government calling it a 'legal fiction' when the spectrum relates to assets located in india. Bilateral/ multilateral rules and retrospective arbitration can drag on 10 years whilst new issues are just landing. I think VOD is right to ring fence its position and lobby for the remedy.

Process similar to Hutch in the UK and the 3G price cap introduced shortly after Hutch made its 3G investment. The outcome was an appropriate remedy. 3 UK must be carrying $5 or $6Bn loans and the market saturated hence the merger with VOD UK.

Gunsup/ Fleccy,
C 55% of the population access the internet via mobile phone and c65% (1Bn) of the population living in rural areas. I guess its all about airtime price, with the economics pitched between the government and the billionnaires (Reed has ring fenced VODs exposure). Maybe its for the new CEO with broader industry experience to explain how incremental investment will payback or why disposal is the better option.. Thats probably 6 months or more away? Perhaps the government will convert to equity in the meantime which would make the disposal a going concern and upside to 'zero'

https://stocksregister.com/2023/01/07/vodafone-group-public-limited-company-vod-at-10-75-its-worth-your-interest/

91.5p for me please Woofer ;-)

A global search and the appointment some time off?
https://www.bloomberg.com/news/articles/2023-01-06/vodafone-picks-egon-zehnder-to-lead-hunt-for-new-ceo?leadSource=uverify%20wall

Gunsup
The group accounts last year said

'Vodafone Idea Limited
The Group’s carrying value in Vodafone Idea Limited (‘VIL’) reduced to €nil at 30 September 2019. The Group’sshare of VIL’slosses not
recognised at 31 March 2022 is €5,120 million (31 March 2021: €3,562 million). Significant uncertainties exist in relation to VIL’s ability to
generate the cash flow it requiresto settle or its ability to refinance itsliabilities and guarantees asthey fall due (see note 29 ‘Contingent
liabilities and legal proceedings’).
The value of the Group’s 21.0%shareholding in Indus Towers Limited is, in part, dependent on the income generated by Indus Towers Limited
from tower rentalsto major customers, including VIL. Any inability of these major customersto pay such amountsin the future may result in an
impairment in the carrying value (31 March 2022: €1.0 billion) of the Group’sinvestment in Indus Towers Limited.'

'government will take its final decision on equity conversion only after Vodafone Idea’s share price stabilises at Rs 10. Presently, its trading at Rs 7.85 on the NSE.....major lenders like State Bank of India are unwilling to approve any new loans until there is clarity in the government’s stake holding.'

So when the SP stabilises at Rs10, the government will convert/ own 33% of VI and capital will become available. Safe as houses then!
https://www.outlookindia.com/business/vodafone-idea-debt-crisis-what-are-the-consequences-of-it-not-getting-emergency-loans--news-251412

Thanks giantsquid. Positive thinking!

'German inflation falls more sharply than expected, offering hopes of a recovery in Europe's biggest economy'
...and VODs investment there...
https://www.thisismoney.co.uk/money/news/article-11596495/German-inflation-falls-sharply-expected.html

'The new services were delivered using the Vodafone Pro II Broadband service and the new Vodafone Ultra Hub and Super WiFi6E Booster bundle, highlighting the futureproof technology customers can take advantage of today.'

https://totaltele.com/cityfibre-and-vodafone-complete-2gbps-trial-in-york/