|Bid||15.82 x 38500|
|Ask||15.83 x 4000|
|Day's Range||15.80 - 15.94|
|52 Week Range||15.53 - 24.97|
|Beta (3Y Monthly)||0.82|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.93 (5.92%)|
|1y Target Est||24.12|
BRUSSELS/LONDON (Reuters) - Brussels gave its blessing to Vodafone's $22 billion purchase of Liberty Global's cable networks in Germany and central Europe, clearing the way for the British company to become Europe's largest mobile, broadband and TV provider. The deal is the standout move by Vodafone in its bid to become a provider of superfast broadband and pay-TV, rather than just a pure mobile provider. The strategy, launched by former CEO Vittorio Colao, is designed to increase customer spending and deepen user loyalty.
BRUSSELS/LONDON, July 18 (Reuters) - Brussels gave its blessing to Vodafone's $22 billion purchase of Liberty Global's cable networks in Germany and central Europe, clearing the way for the British company to become Europe's largest mobile, broadband and TV provider. The deal is the standout move by Vodafone in its bid to become a provider of superfast broadband and pay-TV, rather than just a pure mobile provider.
The European Commission has cleared Vodafone’s blockbuster takeover of Liberty Global’s cable networks in Germany and eastern Europe after the UK company offered concessions to help seal approval for one of the biggest telecoms takeovers over the past decade.
Vodafone said on Tuesday it was launching 5G services in Germany, taking on Deutsche Telekom by offering cheaper deals and reaching more cities than the market leader that went live last week. Vodafone, which has already launched limited 5G services in its British home market, is switching on 5G antennae in 20 German towns and cities - a figure that Deutsche Telekom only expects to reach next year. "We are democratising 5G," Vodafone's Germany chief Hannes Ametsreiter said in a statement.
Vodafone, Australia's third-largest telecom operator, has agreed to refund the wronged customers and accepted that it made misleading claims about its third-party direct carrier billing service, the Australian Competition and Consumer Commission (ACCC) said in a statement. "Through this service, thousands of Vodafone customers ended up being charged for content that they did not want or need, and were completely unaware that they had purchased," ACCC Chairman Rod Sims said. The digital content that could be bought with as little as one or two clicks was marketed and provided by third parties who paid Vodafone commissions for sales.
(Bloomberg) -- South African wireless carrier Cell C Pty Ltd. has begun talks to delay debt payments and hired consultants to probe its business practices and advise on a restructuring, sending shares in its biggest investor to a decade low. Cell C is laboring under 8.9 billion rand ($639 million) of debt and trying to secure new funding from a consortium of investors. The company has begun a round of cost cuts, has frozen hiring and is reviewing its contracts, wrote Douglas Craigie Stevenson, Cell C’s chief executive officer, in an open letter.Cell C has struggled to compete with Vodacom Group Ltd. and MTN Group Ltd. -- well established carriers that control the bulk of the South African market in wireless services and operate the biggest networks. It has 2.6 billion rand of debt maturing in August next year.“We are engaging with our lenders to re-term our debt and allow us sufficient time to implement the Buffet transaction,” Craigie Stevenson wrote in an email reply to questions from Bloomberg, referring to the funding talks with the Buffet Group. Cell C has paid 116 million rand in interest due to bondholders for June and a further 90 million rand on another funding arrangement with local banks, added Craigie Stevenson, who replaced CEO Jose dos Santos earlier this year.Shares in Blue Label Telecoms Ltd., which led a recapitalization of Cell C almost two years ago and holds a 45% stake in the carrier, fell more than 15% to their lowest since 2008.PricewaterhouseCoopers will audit Cell C’s procurement practices and review processes, and law firm Bowmans will investigate any irregular business practices, according to the letter. Deloitte has been named as an independent financial restructuring adviser.“Cell C has a zero-tolerance policy towards illegal or unethical activity,” Craigie Stevenson wrote in the letter.(Adds shares at decade low in first paragraph.)To contact the reporter on this story: Loni Prinsloo in Johannesburg at email@example.comTo contact the editors responsible for this story: Thomas Pfeiffer at firstname.lastname@example.org, Frank ConnellyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Moody's Investors Service ("Moody's") has today changed to negative from stable the outlook of Telecom Italia S.p.A. ("Telecom Italia" or "the company"), the leading Italian integrated telecommunications provider. Concurrently, Moody's has affirmed the company's Ba1 corporate family rating (CFR), Ba1-PD probability of default rating (PDR), and the ratings of all debts issued (or guaranteed) by the company, and all supported debts within its family of issuers, including the Ba1 senior unsecured ratings and (P)Ba1 MTN program ratings. "The change in outlook to negative reflects our expectation that Telecom Italia will continue to operate in a very competitive environment and with sustained high leverage, in spite of management's strong commitment to reduce debt.
Vodafone's chief executive and finance boss have voluntarily cut their share bonus awards by 20% to reflect the poor performance of the mobile operator's stock over the last year, during which it cut its dividend for the first time. CEO Nick Read, who took the top job in October, will give up about 972,000 shares, worth 1.28 million pounds ($1.60 million) at Wednesday's share price. After the cut, he will be awarded 3.89 million shares in the 2020 incentive plan, worth 5.1 million pounds, the company said.
The telecoms company maintained its dividend for the year to March and promised to match that this financial year. Jan du Plessis, chairman of BT, told investors at the company’s annual meeting in London that it remains confident it can meet this year’s payment.
Vittorio Colao, the former chief executive of Vodafone, has joined private equity firm General Atlantic as a special adviser as it hunts for deals in the technology and consumer sectors. Mr Colao left Vodafone last September after a decade in charge.
Italy's biggest phone company, Telecom Italia (TIM), plans to extend 5G services to six more Italian cities as well as dozens of tourist spots and business hubs by the end of the year. TIM has already begun 5G services in Rome, Turin and Naples, is testing them in southern cities of Matera and Bari and plans to move next in Milan, Bologna, Verona and Florence by year-end. The group plans to cover 120 Italian cities within two years, or 22% of the population, it said in a statement.
Ericsson's (ERIC) cutting-edge 5G technology solution allows Vodafone U.K. to switch on its advanced network in seven cities, including London.
Vodafone switched on its 5G network in seven British cities on Wednesday, aiming to set itself apart in its home market from rival EE by offering unlimited data plans that include the high-speed service at no premium. Nick Jeffery, chief executive of Vodafone UK, said offering unlimited data plans to both consumer and business customers would revolutionize the mobile market. Jeffery said Vodafone had examined how consumers used their devices and how it managed its network, including the efficiencies offered by 5G technology, before deciding to switch to unlimited data plans.
(Bloomberg) -- Vodafone Group Plc switched on the U.K.’s second 5G wireless network on Wednesday, kicking off a commercial battle with dominant rival EE that could shape a decade of sales.The technology’s faster download speeds and more reliable connections give the first movers an opportunity to snatch a bigger share of a saturated market. Back in 2012, EE -- now owned by BT Group Plc -- launched 4G services almost a year ahead of the pack, an edge that cemented its position as the U.K.’s largest mobile carrier.Vodafone isn’t making the same mistake again. Its 5G service went live in seven cities just a month after EE’s launch, giving both companies a chance to grab business with early adopters. Britain’s other two mobile networks -- CK Hutchison Holdings Ltd.’s Three U.K. and Telefonica SA’s O2 -- aim to offer 5G by the end of the year.Britain’s mobile price war looks set to continue in the 5G era: Vodafone said Wednesday it would set prices according to connection speed rather than the amount of data consumed, and won’t charge a premium for 5G.“We’ve decided it’s time for the U.K. to be unlimited,” said Vodafone’s consumer director Max Taylor.The stakes are arguably higher now than when 4G was launched. Europe’s phone industry has been stagnating for several years, partly because handsets have become more expensive and offer fewer appealing features with each upgrade. That’s dampened an important source of revenue for the network operators. 5G marks a rare boost in power and speed.“5G is a massive opportunity for the smartphone sales business of operators like Vodafone,” said Canalys analyst Ben Stanton by email. “For the first time in a decade, customers will be compelled to upgrade both their device and their tariff at the same time.”EE has plastered 5G ads across big cities and enlisted rap star Stormzy in its biggest ever marketing effort, a spokesman said. It offered 5G connections at the five-day Glastonbury music festival, where Instagram-happy smartphone users gobbled up 104 terabytes of data, 1,000 times more than at the same event in 2010, according to EE.5G gives Vodafone a chance to reset its brand after a period of intense customer complaints and cancellations that peaked in 2015, said Ben Wood, an analyst at CCS Insight. Vodafone poached Taylor in March from EE, where he was head of marketing.“If you can associate your network brand with being the best for 5G then that’s going to be a big leg-up on your rivals,” said Wood.Huawei RisksEE and Vodafone aim to reach more than 15 urban centers by year end. The networks can handle far more data than 4G and could end up being 100 times faster, pushing down operating costs.Yet the commercial opportunity is still clouded in uncertainty.All the U.K. carriers are rolling out hundreds of 5G radio antennas supplied by Huawei Technologies Co., before the government has decided whether to restrict the Chinese vendor over concerns that its 5G systems are vulnerable to espionage or disruption. If it does, the companies could have to replace Huawei gear with equipment from alternative suppliers.The U.K. is the biggest European market so far to offer competing 5G services. Two Swiss networks, Sunrise Communications Group AG and Swisscom AG, began theirs earlier this year.(Updates first paragraph with network going live, adds detail on pricing.)\--With assistance from Nate Lanxon.To contact the reporter on this story: Thomas Seal in London at email@example.comTo contact the editors responsible for this story: Rebecca Penty at firstname.lastname@example.org, Thomas PfeifferFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A group of banks is set to lend Telecom Italia unit INWIT up to 2.5 billion euros ($2.8 billion) to help it merge its towers with those of Vodafone, two sources said. Telecom Italia (TIM), which controls 60% of INWIT, agreed with Vodafone in February to study the idea of combining their 22,000 telecom masts in Italy in a single unit. UniCredit, Intesa Sanpaolo, Mediobanca, Goldman Sachs and BofA-Merrill Lynch are among the banks finalising the bridge-to-bond loan but other lenders could join the deal, the sources said.
A group of banks is set to lend Telecom Italia unit INWIT up to 2.5 billion euros ($2.8 billion) to help it merge its towers with those of Vodafone, two sources said. Telecom Italia (TIM), which controls 60% of INWIT, agreed with Vodafone in February to study the idea of combining their 22,000 telecom masts in Italy in a single unit. UniCredit, Intesa Sanpaolo, Mediobanca, Goldman Sachs and BofA-Merrill Lynch are among the banks finalizing the bridge-to-bond loan but other lenders could join the deal, the sources said.
Garrod is moving from Vodafone to Greensill, amid a flurry of recent personnel activity at the supply-chain company.
Many investors define successful investing as beating the market average over the long term. But if you try your hand...
(Bloomberg Opinion) -- An unnecessary and misguided economic split at the heart of Europe, driven by populist politics and trade spats. Nope, this isn’t Brexit, it’s the bitter diplomatic standoff between Switzerland and the European Union. The small Alpine republic is at diplomatic loggerheads with its biggest trading partner over how to renegotiate and repackage the swathe of bilateral agreements that binds the Swiss economy to the bloc without it being a member. Brussels wants clearer terms of how Switzerland accesses the single market and for the country to offer more freedom of movement for EU citizens. Bern is trying to balance these demands against local anxieties about sovereignty, immigration, and the related fear about the pressure on wages and social services that might come with more migrant workers. The Brexit parallels have not been lost on Brussels, which wants a speedy resolution above all.After years of negotiations and foot-dragging by the Swiss, EU officials now want to get the talks wrapped up before the new European Commission is formed in November (indeed, before the next deadline for Britain’s departure on October 31st). So they’re stepping up hostilities.Brussels says that, given the snail’s pace of the negotiations, there’s no reason to keep recognizing Switzerland as an “equivalent” financial market to the EU, or one whose rules and supervision are deemed sufficiently close to the bloc’s. In a nutshell, this means it wants to force EU investors to trade Swiss stocks on EU soil only. Imagine the potential impact on shares in Nestle SA, where about 72 percent of its trading turnover is done on Zurich’s SIX market, according to data from Fidessa, a trading tech company.Trying to take a stock market hostage is never a good idea, although in this case it’s more likely to trigger confusion than widespread disruption. Switzerland yesterday launched retaliatory measures, demanding that Swiss stocks be traded on Swiss soil. Law firms say this should create a kind of loophole, which should let EU banks and investment funds keep buying and selling shares in Zurich. Even if this works out, it will be a cumbersome fix. Longer term, investors may have doubts over liquidity and political risk on the Swiss stock market.This sends a dismal signal on Brexit, too. Brussels recently threatened a similar punishment for the U.K. if it crashed out of the bloc without a withdrawal deal, warning that EU investment firms would have to trade British giants like Vodafone Group Plc on EU territory. Only the threat of tit-for-tat measures from U.K. regulators got the Commission to dial things down. By weaponizing this topic again just a few months before the next Brexit deadline, Brussels has sent a message to Westminster: The Swiss model so admired by Britain’s Brexiters is vulnerable to strong-arm tactics.The fact that this is all politically driven makes it hard to guess what happens next. As bad as the EU’s behavior is, it’s possible that the pressure tactics will shake the Swiss into finalizing a deal. But the injection of politics into issues like market access is becoming an all-too regular feature in Europe and won’t help the continent’s attractiveness to investors. Last year, the chairman of the U.S. Commodity Futures Trading Commission Chairman threatened to cut off EU banks from U.S. exchanges because of new regulations that he deemed overly intrusive.The Commission president Jean-Claude Juncker warned Switzerland last year that if a deal wasn’t wrapped up soon, things “might get rough.” He’s been true to his word. The net result feels like a loss for all concerned.To contact the author of this story: Lionel Laurent at email@example.comTo contact the editor responsible for this story: James Boxell at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Lionel Laurent is a Bloomberg Opinion columnist covering Brussels. He previously worked at Reuters and Forbes.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.