Fri, Apr. 29, 1:42 PM
- Vodafone (VOD -1%) has picked out banks to execute what could be India's biggest IPO -- a public listing of Vodafone operations there that could raise $3B, Bloomberg reports.
- Bank of America, Kotak Mahindra Bank and UBS will lead the offering, sources said, and they'll be joined by Deutsche Bank, HSBC and ICICI.
- “We have previously said that we have started preparations for a potential IPO, which includes private conversations with banks, but this is a lengthy process and no decision will be made until we are at the end of it,” Vodafone said in a statement.
- Now read Vodafone: A Buy For Dividend Investors »
Thu, Apr. 21, 10:57 AM
- Vivendi (OTCPK:VIVHY -2%) is actively pushing Telecom Italia (TI -0.1%) toward a sale of its Brazilian unit, TIM Participaçoes (TSU +1.8%), sources tell CTFN.
- The French media giant's stance on TIM was a clear catalyst for the March departure of Marco Patuano as TI's chief executive, as Patuano was inclined to hold on to the business.
- A series of machinations over the past year took place around the possible merger of TIM with debt-laden carrier Oi (OIBR -3.5%) before the prospects of a deal imploded.
- An M&A lawyer said that when Vivendi inherited its Telecom Italia stake in 2014 (via its sale of broadband company GVT to Telefonica), it was already expressing an interest in getting out of Brazil and taking charge of TI as a media platform.
- Rivals Telefonica Brasil (VIV -0.2%) and Claro (AMX +1.5%) aren't likely candidates to take over TIM due to regulatory issues. Oi is surely a candidate again, but more desperate for a move than TIM. Brazil might go for a bid from someone like Vodafone (VOD -0.8%), though.
- Now read Oi's Debt Restructuring: A 4-Player Chess Game »
Fri, Apr. 8, 12:41 PM
- Deutsche Telekom (OTCQX:DTEGY +0.5%) may take a cue from its customer-stealing U.S. business for its unit in the Netherlands, and reformulate strategy more like T-Mobile US (TMUS -0.8%).
- That would mean an emphasis on disruption and perhaps a similar focus on mobile rather than fixed service. In contrast to T-Mobile's U.S. operation, the Dutch business has been losing customers over the past three years, and with a longtime presence in the market, it isn't ripe for reinvention.
- Other, smaller players like Tele2 have actually claimed the mantle of aggression on price in the Netherlands, while there's hot competition from the recently combined Vodafone (VOD +2.3%)/Liberty Global (LBTYA +1.6%) there, as well as Royal KPN (OTCPK:KKPNY -2.3%).
- DT had floated a sale of T-Mobile Netherlands, but withdrew it as a possibility in February after terms from two bidders didn't rise to its expectations.
- Now read T-Mobile: The Price Of Peace With YouTube Is High »
Thu, Mar. 31, 1:47 PM
- Telecom Egypt has settled a dividend dispute with Vodafone Egypt (NASDAQ:VOD), in which it holds a 45% stake.
- With the issue settled, it named a new chairman, CEO and CFO as part of a revamp pressed by Egypt's government. Vodafone Egypt will pay 3.34B Egyptian pounds ($376M) in withheld dividends after settling with Telecom Egypt, which will receive EGP 1.5B of that.
- That's against what Telecom Egypt had claimed was EGP 4.5B in deferred dividends, so it's taking a haircut. Vodafone Egypt had sat on dividends since 2012 amid difficulties repatriating profits to the UK.
- Now read Vodafone: A Buy For Dividend Investors »
Tue, Mar. 15, 12:27 PM
- Vodafone (NASDAQ:VOD) has established a global unit targeting digital security for its enterprise customers.
- Vodafone Enterprise Security Services (VESS) will roll up the company's existing security products in one area, under new area CEO Simon Church.
- The group will cooperate with a number of strategic security partners and target areas including cloud-based protection, network perimeter management, threat detection and response, and an assessment/advisory practice dealing with policy development, risk management and compliance.
- Church, the group's leader, joins in April; he was previously CEO at NTT Security.
Tue, Mar. 1, 4:58 PM
- Hutchison (OTCPK:HUWHY) is headed to a closed-door meeting with EU regulators to address objections to its £10.3B deal to buy out rival telecom O2 (TEF +4.3%), Reuters reports.
- The company will meet with the European Commission on March 7, along with rivals Sky (OTCQX:SKYAY +2.4%), Virgin Media (LBTYA +2.8%), TalkTalk (OTC:TKTCY), Vodafone (VOD +3.1%) and BT Group (BT +3.4%). Iliad (OTCPK:ILIAY +2.5%), the small provider owned by French billionaire Xavier Niel, could also take part.
- The long-in-the-works deal has generated plenty of heat, as the combination of Hutchison's Three UK (the country's No. 4 wireless provider) with Telefonica's O2 (the No. 2 provider) would create the country's largest, reducing the market to three major competitors.
- When the EC opened a full probe into the deal in October, the move suggested that heavy concessions were likely on the way to make the deal happen -- and they may include creating a smaller competitor. (TalkTalk has said it would love to help.)
- The UK tried to take over the probe, but the EC rejected that request and kept control of the deal investigation in early December.
- After hours: TEF -4.2%; LBTYA, VOD, BT flat.
- Previously: Europe rejects UK's effort to examine Three's O2 buyout (Dec. 04 2015)
- Previously: Europe opens full probe into Telefonica-Hutchison UK mobile merger (Oct. 30 2015)
Tue, Feb. 23, 2:03 PM
- BT Group (BT -2.2%) chief Gavin Patterson continued lobbying against a spinoff of the company's Openreach infrastructure unit at Mobile World Congress, saying the company would increase network spending if regulators decides to leave things be.
- "There's a significant investment that we are ready to make now in the next generation of technology, more fiber to the premise, G.fast, fiber to the cabinet," Patterson said in Barcelona. Regulator Ofcom has been reviewing the UK telecom market and deciding whether Openreach should remain part of the longtime incumbent
- Ofcom chief Sharon White said in December that the status quo with Openreach isn't an option. The unit sells wholesale capacity to BT rivals including Vodafone (VOD -1.9%), Sky (OTCQX:SKYAY -0.6%) and TalkTalk (OTC:TKTCY) and is managed at arm's reach, though not to the full pleasure of those competitors.
- Previously: BT Group finishes up 2.8% post-earnings as analysts adjust targets (Feb. 01 2016)
- Previously: BT closing EE deal as telecom giant - with Openreach as room's elephant (Jan. 29 2016)
Mon, Feb. 22, 9:55 AM
- At Mobile World Congress, Paypal (PYPL +0.9%) announced it's teaming up on mobile wallets with Vodafone (VOD +0.1%) and America Movil (AMX +2.3%) in Europe and Latin America respectively, opening a line to millions of new customers.
- Vodafone has 454M users and America Movil 286M. Vodafone's deal will integrate PayPal into Vodafone Wallet, allowing for PayPal's European customers to do touchless payments at Visa terminals; America Movil's arrangement allows for creating digital wallets for 140M Tel Cel and Claro customers in Mexico and Brazil.
- PayPal says its Xoom service is expanding into Africa, allowing U.S. customers to send money to people in Kenya using a connection to Vodafone's M-Pesa. PayPal closed on an $890M deal for Xoom in November.
- Previously: PayPal closes Xoom deal (Nov. 12 2015)
Fri, Feb. 19, 11:57 AM
- Planning a €3B-€4B bond issue, Vodafone (VOD -1.3%) is having to include investor protection for the first time as speculation swirls about a possible future tie-up with Liberty Global.
- A four-tranche deal could come as soon as Monday; the company had to shelve a similar deal in November. But Vodafone is now offering a change of control put option on the bonds -- and investors still likely will look for a premium in a volatile market.
- "The CoC will divide opinion. It's against Vodafone's style to do this but they had little choice after the last deal being pulled," says a banker source, who also thinks it could give buysiders more leverage to change bonds they already hold.
- The deal between Liberty and Vodafone to merge their Dutch operations has reignited speculation about bigger asset swaps or even a full-fledged merger.
- Previously: FT: Deutsche Telekom pulling sale of T-Mobile Netherlands (Feb. 19 2016)
- Previously: Vodafone to raise £2.9B via convertible bonds (Feb. 18 2016)
- Previously: Liberty Global, Vodafone merging Dutch operations (Feb. 16 2016)
Fri, Feb. 19, 11:39 AM
- Deutsche Telekom (OTCQX:DTEGY -0.9%) has suspended plans to sell its Dutch unit after terms from two bidders didn't meet expectations, the Financial Times reports.
- Two suitors had remained for T-Mobile Netherlands -- Warburg Pincus and Apollo -- but DT was looking for more than €3B, and the deal became more difficult with this week's news that Liberty Global (LBTYA -1.1%) and Vodafone (VOD -1.2%) were merging their Dutch operations in a joint venture to create a stronger competitor.
- A deal could be revived in the future, a source said, as DT still wants out of difficult markets where it can't add extra services.
- Previously: Reuters: Warburg Pincus enters fray for T-Mobile Netherlands (Nov. 12 2015)
Thu, Feb. 18, 6:07 PM
- Vodafone (NASDAQ:VOD) will raise £2.9B by issuing convertible bonds, in two tranches.
- The tranches will come in maturities of 18 months (coupon of 1.2%-1.5%) and three years (coupon of 1.7%-2%), convertible into shares equal to about 5% of current outstanding shares, but the company says it may repurchase some to mitigate dilution.
- The initial conversion price is expected to be the higher of £2.173 or the daily volume-weighted average share price over the next three days.
- Shares fell 0.4% in London today to £2.1648; ADRs fell 0.4% in U.S. trading.
Tue, Feb. 16, 1:03 AM
- Liberty Global (NASDAQ:LBTYA) and Vodafone (NASDAQ:VOD) are merging Dutch operations in a joint venture, in a bit of an appetizer before what could be a broader combination of operations in the future.
- It's a big appetizer, though -- the 50/50 venture is valued at more than €19B -- and the companies said discussions around the Netherlands venture haven't ranged into any other areas.
- The venture will sell mobile and cable under both companies' brands (Ziggo and Vodafone), and Vodafone will pay €1B as part of the deal to equalize their ownership.
- It will have more than 15M revenue-generating units, and the companies expect after the deal closes later this year that they'll see cost and revenue synergies of €3.5B (and €350M in integration costs).
Fri, Feb. 5, 7:53 PM
- Telstra (OTCPK:TLSYY -1.8%) and Optus Mobile were the big spenders in Australia's competitive 1800-MHz spectrum auction, which drew A$543.5M in spending from the country's big four providers.
- Optus led all comers with A$196M, just ahead of Telstra at A$191M. TPG (OTC:TPGTF) spent A$88M, and Vodafone (VOD -2.4%) the least at A$68M.
- The auction was set to improve 4G coverage in regional and remote Australia; currently, Telstra, Vodafone and Optus use the 1800-MHz band to deliver their 4G networks in metropolitan areas.
- Vodafone, which skipped the digital dividend auction in May 2013, has been looking at regional expansion after refarming spectrum in Australian Capital Territory, the coast of New South Wales and the Blue Mountains, and switching on 850 MHz 4G in sites across Queensland.
Fri, Feb. 5, 7:40 PM
- Vodafone (VOD -2.4%) finished lower for the second straight day after earnings, swept up in market downdrafts despite a chorus of analysts signaling approval for the company's recovering European business.
- The FTSE 100 finished 0.9% lower in London and a tech-stock downdraft sent the Nasdaq down 3.3%.
- Meanwhile, a wide number of firms reiterated buys on the stock. Barclays and JPMorgan Chase reiterate their Overweight ratings, while Buys were also reinforced at HSBC and Beaufort Securities.
- Nomura raised its price target to 255 pence/share. Among the other firms' price targets, they range from Barclays' 250-pence price through RBC's 255 pence, HSBC's 260 pence and JPMorgan's 275 pence.
- Shares closed in London today down 1.6% at 207 pence, implying 21-33% upside in the various targets.
Thu, Feb. 4, 10:40 AM
- Vodafone (NASDAQ:VOD) is off 2.5% in U.S. trading following a fiscal third quarter showing continuing growth in underlying revenue, feeding the company's story that Europe (its biggest regional business) is back on track.
- Underlying service revenue grew 1.4% and the company is tracking toward in-line full-year earnings of £11.7B-£12B. Decline in underlying revenue in Europe slowed again, to 0.6% from Q2's decline of 1%.
- Emerging markets saw underlying revenue growth of 6.5%. "We have taken another step forward in the last three months, with the highlights being a strong performance in South Africa and improving trends in Germany and Italy," says CEO Vittorio Colao.
- Its "Project Spring" worldwide upgrade plan is 92% through its mobile buildout, with 4G coverage now at 84% in Europe. The company has committed £19B to the plan.
Thu, Feb. 4, 8:36 AM
- Vodafone Group plc (NASDAQ:VOD): FQ3 service revenue of £9.17B (+1.4% Y/Y)
- Shares -1.8% PM.
Vodafone Group Plc is a telecommunications company. It provides a range of services including voice, messaging, data, and fixed communications; unified communication solutions; Vodafone One Net, a converged service, which combines fixed and mobile services for various businesses; carrier voice... More
Industry: Wireless Communications
Country: United Kingdom
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