Member Info for Android101

I expect America to start buying defensive stocks like VOD with a good cash flow and dividend before the correction.
https://www.investing.com/analysis/a-steep-market-correction-may-be-on-the-horizon-200608889

Over 130 by summer imo
https://invst.ly/wnq4r

this week? I guess option expiries to blame an only temporary. Dividend to look forward to.
Bought a few more this morning
Good if it can close higher than last week to make the weekly chart trend up LoL

'As soon as some of these grants start coming through we could see the Telecoms sector globally being re-rated'

It makes sense with VOD strategically focused on Consumer and Business that the 'Global' Enterprise corporate and commercial teams find themselves targeting these [€750Bn] Grants or they will be redundant. At least thats how I read it.

'In order to maximise our access to these opportunities, we have mobilised a dedicated cross-functional team
comprising product specialists, business development executives and experienced regulatory affairs professionals.
Our plans are focused on five core cross-market opportunities: digitalisation of SMEs; eHealth investments; smart
cities; digital initiatives for a greener Europe; and connected education. We have an attractive and relevant suite of
products and services designed to access funding opportunities available and further detailed information on the
opportunity and our progress will be outlined in a dedicated virtual investor briefing in 2022'

Thinking about it, could have 3 operators allowing more mvno's, branded access and so competition for consumers/ business etc.
VOD Brand is valued at c$20Bn. Group net assets c€58Bn.

Nick is raising his game to force the regulators et al to see the gap imo
Mkt cap c €32Bn.

*regulators
*participants

Think Nick R is referring to the regulatirs definition of a market and how many participanys to encourage competition.
With Vantage, arent we looking at one market across 10 countries with 3 operators rather than 10 markets with 30 operators. 30 sounds expensive with no prospect of a return or building (resilient, future proofed infrastucture

I am sure VOD will pass on any costs in higher prices.

Isnt this to do with MCB ending today? Debt maturity profile in the slides doesnt flag any issues

'buyers will have made their 5p or so and ditched'
In the end, a good company, the peaks and troughs come and go.
Was top 10 FTSE and then down to 21st, paying 7% div!
With reconfirmation of cashflows and a pipeline of structural opportunities etc, think the 'horizon value' will increase from here.

Nick Read, Group Chief Executive, commented:

"The results show we have demonstrated good sustainable growth and solid commercial momentum. Our strengthened performance in Africa and Europe puts us on track to be at the top end of our guidance for this year, as well as firmly within our medium-term financial ambitions.

We know there is more to do and our focus remains on driving growth. We are structured for value creation, with operational priorities and portfolio actions which are designed to improve returns at pace."

Sustainable growth in both Europe and Africa
· Group service revenue growth of 2.8%* in the first half of FY22
· Adjusted EBITDAaL growth of 6.5%* and margin expansion of 0.7* percentage points year-on-year to 33.6%
· Good performance in Germany with 1.2%* service revenue growth and 7.7%* Adjusted EBITDAaL growth
· Pre-tax return on capital employed increased by 0.8 percentage points to 6.3%
· Committed to improving returns through growth and portfolio action

'Vodacom Group may consider a separate listing of its main South African business '

Should be interesting next 6 months including 2 dividends!

'Joosub’s comments come as Africa-focused telecom firms look to wring more value out of their continent-wide operations. Vodacom’s rival, MTN, is working on a deal to sell and lease back SA masts and has had its financial-technology business valued at R87bn ahead of a potential spinoff in 2022....MTN has surged 164% in 2021'

https://www.businesslive.co.za/bd/companies/telecoms-and-technology/2021-11-15-vodacom-may-list-primary-sa-business/

Good performance imo. Raised guidance too
https://www.vantagetowers.com/en/investors/results-report-and-presentation

Merge/ cost sharing with 3? Presumably not just 3 UK. Both groups operate in Austria, Ireland and Italy also.

'Vodafone chief executive Nick Read voiced frustration with the telecommunication operator's share price in an interview. He said his chief goal was to prove to investors that telecoms could be a growth sector. "I think Vodafone is different - it is differentiated because of the scale that we bring and we can make targeted investments," he said. He also called for cooperation in the sector, arguing that it was destroying value by duplicating infrastructure. He had also clearly put some thought into merging in some way with Three. - Sunday Times'

'Next IPO could be M-Pesa.'
You are spot on when you say they have done alot, market hasnt caught up yet.
VOD is pregnant with IPO opportunities and asset/ trade sales.

Cash cow imo with a sequence of star 'digital' products and services aligned with efficient network economies of scale

Good outcome and strategic fit imo
https://www.submarinenetworks.com/en/systems/asia-europe-africa/harp

'I'd say it was a reaction to M&A speculation'
FY21 the net assets were c€58Bn. Market value completely disconnected. So many opportunities and options. Hold tight for the RNS imo

'repay 2.5b debt per year'
As we are guessing, I think the debt will reduce out of capex savings (run rate). Div will increase underpinning the 'growth commitment'. Both Nick and Margherita are finance boffins and will make the numbers. Probably got a list of 10 options to do that..

imo the capex is 'rightsized' for the stated strategy. I think there is a step change (reduction) in capex requirement at the network level eg with Vantage (shared tower costs) and consumer/ business productisation (technology generation). Beyond consumer and business capex, bespoke capex for large enterprise will be recovered incrementally in a contracts as large corporates begin to spend again. This type of capex will be reovered by new revenues imo

So I dont think there is any competition with the dividend.

Agree the cash story and performance is positive.
In the interest of balance, after depreciation and amortisation, Vods net assets (..including debt, losses etc) are c€58Bn.
That has to be c150p sp?

'Thanks for taking the time to post your informative views, its good to get some interesting posts to give me other areas to research.'
Glad my insights are helpful. I post to help me stay focussed on the reasons for investing in a stock. Sometimes not so serious..