Member Info for Longish

Blue sky, under WTO rules, VOD could fit as an acquisition by an Asian Telco...who then ship Asian handsets to EU while Apple struggle with import tariffs from China etc..

Could be a quick (like what Teresa May will need to back into the Brexit timetable..memorandum of understanding)

For example
Hutchinson Whampoa could treble the size of its European mobile footprint.
China (telco) could counter concerns over concentration in its home markets (usig the herfindahl hershman index as a comparator) with an expanded global footprint..

In the event of earthquakes/ wars/ disasters etc, VODs EPEG, EIG, BBG submarine cable systems provide diversity and security for global and regional telecommunication services (..not just VODs traffic). This is another undervalued and misunderstood VOD asset... VOD don't just sell phones

I think Vod better insulated than many from tariffs. Choose Huawei, Samsung or Apple handsets with or without tariffs, the handset replacement cycle is alive and well...

Value v Growth...risk mispriced..

Good to hear the new CEO confirming the lower costs from digital transformation - €8bn of addressable cost reduction...that should cover divs for anyone in doubt about free cash flow...I believe...

However this plays out, Amazon will need VODs cable, terrestrial and wireless networks to reach the consumer and the consumer will need VODs services to reach Amazon or any supplier of choice

...looking forward to the new CEO clearly articulating the strategy and div policy

...6% div in perpetuity with capital growth on current cash distribution on the back of a napkin...

€3.9Bn/.06 = market value €65Bn

... say c.29Bn shares = SP €2.24

Hi Velo
I think Z score is distorted by regulation of revenues (and costs) between licensed operators. The net regulated cashflow (..ebitda) impact is offset by more efficient use of capacity and lower next gen network costs per unit. VOD has just completed Spring investments etc, so watch the cash roll in. The new CEO (ex CFO) should understand the financial formula and is maybe why he is chosen. All telco revenues are declining globally but next gen Data (..IP etc) revenues are growing within that...so telcos will become much flatter and operationally more efficient and the div/ cashflow manageable to the financial formula above..Any competition/ new entrant issues end up in court like Googles huge fine from the EU. Debt on the balance sheet is a good thing following CAPM and financial efficiency.

Thankyou JD

Thankyou JD

at 16.35 there was also a £30.3m buy. £94m in total if the same buyer at 15.56..

https://uk.finance.yahoo.com/news/low-vodafone-share-price-093015765.html

...https://www.thetimes.co.uk/article/elliott-advisors-name-is-enough-to-spark-chatter-in-vodafone-2ts3hbg7n

https://www.bloomberg.com/news/articles/2018-07-30/vodafone-surges-on-report-activist-elliott-took-stake-in-carrier

I have no inside info ...published info like Bloomberg
https://www.bloomberg.com/news/articles/2018-07-30/vodafone-surges-on-report-activist-elliott-took-stake-in-carrier

...the kings new clothes are one thing....sovereign regulated markets another..Vod is as safe as houses..

An activist investor buying in at c.185 and a Vod Board Director selling at c.185 suggests a bounce in SP shortly...

Trump tweets policy...WTO et al struggle to translate into multilateral policy...Vod negotiates country by country. I am expecting a lift in SP following Liberty deal. Vod cashflow covers interest and div is safe. NPV++

Thanks lse2000...I have traded a few cycles all the way to the bottom and profited more/ lost less than holding on. If I sell Vod it would be to buy back at lower price...

..only lose if you sell. Dont sell. Vod or an incarnation will still be around in 10 years time...