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"Vodafone's results are a checklist of everything bad about a company. It has swung to a loss-making position, revenue is down, the dividend is not growing and there is negative free cash flow," AJ Bell analyst Russ Mould commented.
regretting lol, when the div comes they will drop by that amount taking them into the 60s anyway. no div should be paid when a company such as vod is doing so bad. you must be i tiny player to make such bull**** remarks
I sold most of my shares this week as I think this idiot CEO will make more negative comments on Tues along with a div cut sending shares below 70p. Good luck to all who decided to stay in.
EU antitrust regulators see no issues with Vodafone Hutchison mobile tie – up
14:13
BRUSSELS, Nov 2 (Reuters) – Vodafone and CK Hutchison's $19 billion mobile merger in Britain does not pose any competition concerns to EU antitrust regulators, according to a European Commission filing.
The companies sought approval from the EU competition enforcer for their bid to create the UK's biggest mobile operator on Oct. 30.
The Commission, which set a Dec. 6 deadline for its decision, is reviewing the deal under its simplified procedure.
It uses this procedures for mergers which are not likely to raise competition concerns and where clearance is a foregone conclusion.
The deal in contrast faces intense scrutiny from the UK's Competition and Markets Authority because it will reduce the number of networks from four to three, a threshold which regulators worry could reduce competition.
(Reporting by Foo Yun Chee; Editing by Kirsten Donovan) ((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net)
Copyright 2023 Thomson Reuters. Click for restrictions.
12:15pm: Vodafone sale a tick in the box but more to do
There has been a subdued reaction to Vodafone's sale of its Spanish business for up to €5 billion.
This may be partly because the sale had been well flagged with Zegona confirming talks were underway in September.
Russ Mould at AJ Bell feels it is "another tick in the box" for the company’s turnaround efforts but the journey is far from complete.
He pointed Vodafone "has lost its way in recent years and has been forced to review its business," which has led to asset sales and mergers with the intention of having a more streamlined platform from which to try and revive growth.
But he thinks the journey is far from complete and that Vodafone still needs to simplify its business, having suffered from being in too many markets with too little resource.
He suggested with the market shrugging off the Spanish news, that the telecoms group "needs to be more imaginative in reviving its fortunes otherwise its shares might continue to drift.”
Shares are down 0.2% at 76.56p while the FTSE 100 is up 36 points at 7,364.
if the merge doesn't get approved and divs are canceled this will be a 50p share. say what you want about the value, she has ****ed this company for years, she was the cfo remember. she never has anything good to say. 78 i'm out.
well shes ****ed it since she took over. it was 95p and now we've had a low of 69.p under her. remember she was cfo for years, yep shes done great job. under her we will see mid 50s before a jump, wait for the div cut which will come nov 14th. the market hates vodafone.
BREAKINGVIEWS – Vodafone will struggle to get clean exit in Spain
14:13
(The author is a Reuters Breakingviews columnist. The opinions expressed are their own. Updates to add graphic.)
LONDON, Oct 30 (Reuters Breakingviews) – Vodafone’s boss Margherita Della Valle is cleaning up the sprawling 21 billion pound telecom group, but it’s a tough job. A potentially messy exit in Spain illustrates the point. Della Valle lacks an obvious partner in the country: local giant Telefónica is too big, while rivals Orange and MásMóvil are merging with one another. As a result, Vodafone may have found itself a potentially problematic counterparty for the Spanish business, which Della Valle has put under strategic review.
Zegona Communications , a London-listed cash shell run by former Virgin Media executive Eamonn O’Hare, is in talks to buy at least half of the Spain unit for an implied overall enterprise value of more than 5 billion euros, according to a Bloomberg report that cited people familiar with the matter. Local newspaper Expansión reported, citing market sources, that Zegona could buy all of the division’s equity – with the help of a debt package from Deutsche Bank , ING and UniCredit and a 900 million euro loan from Vodafone itself.
Both options could get messy. Tiny Zegona would have to borrow heavily to buy the whole thing, meaning it would be risky for Della Valle to remain exposed by lending to the buyer. A joint venture, meanwhile, would see a large chunk of the asset remain on Vodafone’s balance sheet until Zegona or another player could afford to buy it outright. That won’t help the parent group’s valuation much. Investors might be reassured that Della Valle is making things happen, but a clean break in Spain looks increasingly unlikely. (By Pamela Barbaglia)
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