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Vodafone Was Always an Activist Target Waiting to Happen

Chris Hughes
Vodafone Was Always an Activist Target Waiting to Happen

A weak share price, a massive debt-fuelled acquisition, and an impending switch to an unproven CEO: Vodafone Plc has the characteristics of a large, slow-moving target for shareholder activism. Little wonder investors took seriously Monday's story in Dealreporter that the British telecom group had attracted the interest of ubiquitous corporate agitator Elliott Management Corp. Whatever Vodafone and outgoing Chief Executive Officer Vittorio Colao have achieved lately, it hasn't been a success for investors.