Vodafone Group PlcNASDAQ
Tue, Nov. 29, 5:45 AM
- British media regulator Ofcom is proceeding with a formal notification to legally separate Openreach from BT, the division that develops and maintains the U.K.'s main telecoms networks.
- Sky (OTCQX:SKYAY), Talktalk (OTC:TKTCY), Vodafone (NASDAQ:VOD) and of course, BT, all use Openreach networks.
- In a statement, BT said it was open to Ofcom's proposal for legal corporation and "has proposed a model that is fair, sustainable, and proportionate."
Mon, Nov. 28, 12:04 PM
- Hitting fresh 52-week highs on double the normal volume today:
- Vale (VALE +5.2%)
- Cliff's Natural Resource (CLF -1.8%)
- Essent Group (ESNT +1.8%)
- Finisar (FNSR +4.7%)
- China Lodging (HTHT +5.8%)
- 51job (JOBS +1.4%)
- PrivateBancorp (PVTB +0.1%)
- Alleghany Corp. (Y -0.1%)
- The only fresh 52-week lows today are in European telecom:
- Vodafone (VOD -2.3%)
- Orange (ORAN -1.4%)
Wed, Nov. 23, 10:59 PM
Mon, Nov. 21, 3:41 AM
- U.K. regulator Ofcom has made a move to increase competition for mobile bandwidth ahead of its next auction.
- It placed a cap on the amount of spectrum that the bigger players such as BT Group (NYSE:BT) and Vodafone (NASDAQ:VOD) can buy, in a bid to leave space for smaller firms.
- It means, on the lower band, BT will be barred from the bidding as it already owns 45% of the market.
Fri, Nov. 18, 1:38 PM
- Telecom companies are Europe's "sick man," marking the worst performance among the continent's sectors, and there's little encouraging news ahead, says Leila Abboud.
- An index of telecoms has showed up dead last in 2016, with 20% declines (accounting for dividend effects).
- Despite serviceable results from the likes of Vodafone (NASDAQ:VOD), Telefonica (NYSE:TEF), Telecom Italia (NYSE:TI), Orange (NYSE:ORAN) and Deutsche Telekom (OTCQX:DTEGY), investors are unimpressed and have driven the sector's overall value near a two-year low.
- Blocked acquisitions play a role, as EC chief Margrethe Vestager began blocking national mobile mergers.
- Even if the companies come through on sustained growth of market share and revenues, there may not be much to be gained: Enterprise values are around 6.2-6.4 times forward EBITDA -- not far below carriers in the U.S., around 6.5 times (but with quicker growing earnings).
Thu, Nov. 17, 11:59 AM
- The day after Vodafone's (VOD +1.2%) CEO suggested at a Barcelona conference that regulators might now be more favorable to a strategic tie-up with Liberty Global (LBTYA +3.4%), Liberty put some water on that suggestion at the Morgan Stanley gathering.
- Asked whether the two companies' merging of Dutch operations could provide a template for more/bigger deals, Liberty CEO Mike Fries says "Hard to say, (but) I would probably say not."
- The Netherlands arrangement was a "unique situation" and the two companies aren't currently talking about more, he said.
- "We were bigger then them in this market," he says. "So for us it was a net cash-out deal. It was a small market, (so) a good way to get to know each other."
Wed, Nov. 16, 6:28 PM
- After its attempt at bigger collaboration in Europe failed last winter, Vodafone (VOD +0.4%) says continental regulators might look more favorably on a deal it could arrive at with Liberty Global (LBTYA +3%) now.
- "The European Commission has clearly indicated that they like the idea of stronger competitors to former incumbents," CEO Vittorio Colao said at Morgan Stanley's conference in Barcelona.
- The two companies agreed in February to merge their Dutch operations via a joint venture; that followed the breakdown of talks over a bigger European asset swap last fall.
- Despite that, many analysts say the reasoning behind getting the two together is still there. And Colao says incumbent telecoms are still powerful.
- "They see that in each country there is a KPN, a Telecom Italia, a Deutsche Telekom, a BT, that are at the end of the day still incredibly, I would not want to use the word dominant, but let's say influential. And you want a counter force, and we could be that counter force," he said.
Tue, Nov. 15, 7:33 AM
Tue, Nov. 15, 4:47 AM
- Vodafone (NASDAQ:VOD) +2% premarket after investors cheered its European organic growth in H1 and full-year goals despite the mobile operator reporting a sharply wider net loss.
- As a result of a €5B write-down on its Indian business - due to cutthroat competition in the populous country - Vodafone will not launch the unit's highly anticipated IPO before March next year.
Mon, Nov. 14, 4:42 PM
- New positions for Greenlight Capital as of Sept. 30: U.S. Steel (NYSE:X), and GEO Group (NYSE:GEO).
- Major exits: Twenty-First Century Fox (NASDAQ:FOXA), Humana (NYSE:HUM), Perrigo (NASDAQ:PRGO), AmerisourceBergen (NYSE:ABC), Hertz (NYSE:HTZ), Community Health (NYSE:CYH), Lamar Advertising (NASDAQ:LAMR), Vodafone (NASDAQ:VOD).
Mon, Nov. 7, 12:22 PM
- While UK telecom BT Group (BT -0.3%) has dug in regarding pressure to unload its Openreach infrastructure arm, one shareholder has reportedly suggested it should consider a sell-off.
- Aviva Investors says BT should ponder the move, one which would ease regulatory pressures and please rivals, according to the Sunday Telegraph.
- "They obviously have been clear that they don't want to do it, but that doesn't mean it can't be done," said Trevor Green, Aviva's head of UK equities, according to the paper. "We just think it should be something which should be explored."
- Vodafone (NASDAQ:VOD) has been vocal about pressing for the move, along with Sky (OTCQX:SKYAY) and TalkTalk (OTC:TKTCY) -- all of whom want to maintain access to the wholesale infrastructure at favorable terms. Meanwhile, UK regulators continue to consider whether breaking it up is in the public interest.
Fri, Nov. 4, 10:18 AM
- Vodafone (VOD -0.3%) has sold its fixed-line operations in the Netherlands to T-Mobile Nederland (OTCQX:DTEGY -0.9%).
- That's part of a concession it made to EU regulators in order to secure approval for its bigger merger -- of its operations in the country with Ziggo, the Dutch unit of Liberty Global (LBTYA +2.1%).
- Europe in early August signed off on the deal, which will create a stronger competitor to Dutch incumbent Royal KPN (OTCPK:KKPNY -1.3%).
Wed, Oct. 26, 7:42 PM
- European telecoms have a stable outlook into the new year, Moody's says, thanks to flexibility in raising prices driven by customers' need for high-speed data -- and their willingness to spend.
- "Customers are willing to pay more for better value, and telcos" -- including some of the largest, like Telefonica (NYSE:TEF), Orange (NYSE:ORAN) Deutsche Telekom (OTCQX:DTEGY), Vodafone (NASDAQ:VOD), Telia (OTCPK:TLSNY), and Telecom Italia (NYSE:TI) -- "will continue to offer higher speeds, more capacity, content and additional services, such as roaming, greater network security and cloud storage capacity, to support price increases," the firm says.
- The demand should support industrywide revenue growth of 1-2% over the next 12-18 months, Moody's says, and margins will rise from around 35% now to 36% by 2017.
- Another tailwind is regulators focused less on reducing consumer prices and more on pushing investments in high-speed networking, the report says. But big cross-border M&A isn't likely to occur with fewer synergies to be grabbed as well as less financial flexibility, and governments protecting incumbent firms.
Wed, Oct. 26, 3:05 AM
- Following an 18-month probe by industry regulator Ofcom, Vodafone (NASDAQ:VOD) has been fined £4.6M for "serious and sustained breaches of consumer protection rules," including mis-selling, inaccurate billing and poor handling of complaints.
- "We deeply regret these system and process failures," the telecoms giant said. "We offer our profound apologies to anyone affected by these errors."
Tue, Oct. 25, 7:52 PM
- Vodafone (VOD +0.9%) is set to receive fines in the millions of pounds when UK regulator Ofcom produces the results of a pair of probes tomorrow, Sky reports.
- The probes, which have lasted almost a year and a half, dug into how Vodafone handled customer complains as well as in delivery of services to the company's pay-as-you-go customers.
- For prepaid customers, Vodafone was charged with "rendering bills to such customers that did not represent the true extent of the service actually provided to them." And the other probe dealt with whether complaint handling had proper transparency and access to alternative dispute resolution, among other charges.
Wed, Oct. 19, 2:18 PM
- Vodafone Portugal (VOD -1%) is counting on a positive outcome with the European Commission, which it expects will force an opening of Altice's (OTCPK:ATCEY) fiber network to rival firms.
- The EC had opened an early probe into decisions by Portugal's telecom regulator not to force Altice-owned MEO (the market-leading pay TV and broadband provider) to allow others onto the fiber net.
- With a ruling due by the end of the month, Vodafone Portugal chief Mario Vaz says arguments are lining up that suggest open access is coming: "We expect a positive result for Portugal."
- Such a move would build incentives for co-investment and greater competition in currently noncompetitive parts of the country, he said.