Previous Close | 59.60 |
Open | 59.54 |
Bid | 0.00 x 0 |
Ask | 0.00 x 0 |
Day's Range | 59.40 - 59.54 |
52 Week Range | 55.92 - 70.04 |
Volume | |
Avg. Volume | 10,588 |
Market Cap | 30.768B |
Beta (5Y Monthly) | 0.13 |
PE Ratio (TTM) | 15.88 |
EPS (TTM) | 3.74 |
Earnings Date | N/A |
Forward Dividend & Yield | 2.49 (4.17%) |
Ex-Dividend Date | Apr 02, 2024 |
1y Target Est | 57.17 |
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Swisscom's agreement to buy Vodafone Italia for 8 billion euros ($8.7 billion) is the latest attempt by a European telecom company to boost its prospects through consolidation, divesting assets, or selling stakes to investors. Weighed down by billions of euros of debt, European telecom companies operate in small, highly competitive markets, unlike their peers in other regions, making it difficult for them to find growth. European telcos have for years fought regulatory hurdles that prevent mergers.
(Bloomberg) -- Vodafone Group Plc struck an €8 billion ($8.7 billion) deal to sell its Italian business to Swisscom AG, bringing to a close a years-long divestment effort and setting the stage for a shake-up of the fiercely competitive Italian market.Most Read from BloombergApple Is in Talks to Let Google Gemini Power iPhone AI FeaturesTrump Rules Out Vivek Ramaswamy as Running Mate as He Eyes New TeamNvidia Unveils Successor to Its All-Conquering AI ProcessorMusk Says His Ketamine Prescription
British cellphone company Vodafone confirmed Friday that it is selling its Italian business to Switzerland’s Swisscom for 8 billion euros ($8.7 billion) and will hand back half of the proceeds to its shareholders through the buyback of company shares. Vodafone said the move, with talks first announced Feb. 28, represented an “attractive valuation” and marked the final step of its strategy to sell off parts of its European portfolio. Swisscom, a telecoms operator, will pay in cash that it will finance through new debt.