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Vodafone Group plc (VOD)

- NASDAQ
  • Tue, Feb. 24, 8:02 PM
    • U.K. mobile firms are likely looking at a license fee increase as regulator Ofcom follows its government mandate to ensure spectrum fees reflect market value.
    • EE (ORAN, OTCQX:DTEGY) -- on its way to becoming part of BT Group (NYSE:BT) -- Three (OTCPK:HUWHY), O2 (NYSE:TEF) and Vodafone (NASDAQ:VOD) could see fees for the 900 MHz and 1800 MHz bands rising to a total £223.3M/year ($345.5M/year) -- up from the combined £64.4M/year they pay now.
    • Considering proportional increases, EE might see its current £24.9M/year rise to £75.6M.
    • Related mobile stocks were up today, with the exception of Vodafone, which saw a downgrade from Bank of America: ORAN +1.7%; OTCQX:DTEGY +1.9%; TEF +1.4%; OTCPK:HUWHY +0.3%; VOD -3.3%.
    • Previously: Vodafone lower after BofA downgrade (Feb. 24 2015)
    | 1 Comment
  • Tue, Feb. 24, 3:00 PM
    • Vodafone (NASDAQ:VOD) ADRs are trading 3.4% lower in the wake of a downgrade by Bank of America, to Underperform from Neutral.
    • That's despite a reiteration today by JPMorgan Chase of its Overweight rating, and its price target on London shares of £265/share. (Vodafone closed in London today at £226.52, -2.7%.)
    • ADR shares are trading at $34.76 and are down 15.6% over the past year.
    | 2 Comments
  • Wed, Feb. 18, 11:14 AM
    • In more details from 13Fs: John Paulson's Paulson & Co. closed its entire stake in Vodafone (NASDAQ:VOD) by Dec. 31.
    • Paulson had a stake of 26.7M shares ($927.6M at today's price), which made up 3.65% of the fund's portfolio.
    • The fund did add nearly 320K shares to its T-Mobile (NYSE:TMUS) stake.
    • Paulson also added to stakes in Time Warner Cable (NYSE:TWC), boosting that stake by 18%, and DirecTV (NASDAQ:DTV), adding 9% to that stake.
    • VOD shares are down 2.1% today, and are now up just 1.6% YTD.
    | Comment!
  • Thu, Feb. 5, 9:54 AM
    • BT Group (NYSE:BT) running fast at +6.2% today in the wake of news of its agreement to buy EE for £12.5 billion ($18.98 billion) in cash and stock.
    • The combo of the country's biggest fixed-line telecom and biggest mobile operator allows for bundle sales of communications services, and gets BT more than 30M customers (24.5M direct mobile, 834K broadband) not to mention a phalanx of 580 retail stores.
    • The UK has been slow to offer customers "quad" bundles of fixed telephony, mobile, broadband and TV -- but it's getting there.
    • BT expects the deal will pass regulatory muster and go through by the end of its fiscal 2016.
    • Vodafone (NASDAQ:VOD), playing catch-up in the UK broadband market, will still press for heavier regulation of a BT-EE combination that will have significant market share. “The important thing is that the regulator has an eye [on] how the new, large BT continues to grant access to their network,” said Vodafone CEO Vittorio Colao.
    | Comment!
  • Thu, Feb. 5, 4:22 AM
    • A steady recovery in Europe helped Vodafone (NASDAQ:VOD) stem the rate of sales decline in its third quarter, as revenue rose 13.5% to £10.88B, beating market forecasts of £10.4B.
    • Group service revenue, a key metric based on telecom-services sales, fell 0.4% excluding acquisitions and disposals, and on a constant currency basis. That compares with a 4.8% decline in the same period last year.
    • Vodafone also reiterated its fiscal-year guidance of adjusted operating profit of £11.6B-£11.9B.
    • VOD +1.2% premarket
    | 2 Comments
  • Mon, Jan. 5, 9:57 AM
    • With Greece and oil-related fears once more taking a toll, The Euro Stoxx 50 is down 2.1%, and many continental indices posting ~2% declines. U.S.-traded European tech and telecom names are performing much the same way.
    • Tech decliners: NOK -4.2%. ALU -3.3%. SAP -2.9%. STM -2%.
    • Telecom decliners: VOD -2.4%. TEF -4%. ORAN -3.6%. TI -2.2%. PT -6%.
    | 23 Comments
  • Dec. 5, 2014, 3:25 AM
    • Goldman says Vodafone (NASDAQ:VOD) should benefit from sector M&A as sector consolidation should temper deflationary risks.
    • Upgrades shares to Buy from Neutral.
    • Raises price target 17% to 280p (25% upside vs. yesterday's close).
    • Previously: Vodafone downplays odds of Liberty deal (Dec. 3)
    | 1 Comment
  • Nov. 28, 2014, 1:07 PM
    • Bloomberg reports Vodafone (VOD +2.6%) is exploring a "combination" with European cable giant Liberty Global (LBTYA +7.4%). Liberty has soared on the news.
    • Liberty operates in 14 countries (12 in Europe), passes 52M homes, and claims 27M customers and trailing annual revenue of $20B. Vodafone has already acquired Spanish and German cable giants ONO and Kabel Deutschland, and has declared it wants to offer mobile/wireline bundles throughout Europe.
    • Earlier: UBS upgrades Vodafone
    | 2 Comments
  • Nov. 28, 2014, 10:02 AM
    • UBS has named Vodafone (NASDAQ:VOD) a Key Call Buy, and predicts the carrier will benefit from mobile data growth and improving German, Spanish, and Italian sales.
    • Also: Consolidation in the U.K. mobile market now appears likely, with both BT and 3 U.K. owner Hutchison Whampoa expressing interest in buying either Telefonica's O2 or Orange/Deutsche Telekom's EE. Vodafone recently committed to offering bundles featuring mobile, wireline voice, broadband, and TV services to U.K. customers, as BT and EE make their own moves to offer the same.
    | 1 Comment
  • Nov. 11, 2014, 9:17 AM
    | 1 Comment
  • Nov. 11, 2014, 4:33 AM
    • Vodafone (NASDAQ:VOD) Q2 organic service revenue -1.5% vs. -2.8% expected and -4.2% in Q1.
    • H1 revenue +8.9% to £20.8B.
    • H1 EBITDA -10%* to £5.9B.
    • Sees FY core earnings between £11.6B and £11.9B, vs. previous guidance of £11.4-11.9B.
    • Shares +5.3% in London.
    • Source: press release
    | Comment!
  • Oct. 16, 2014, 10:09 AM
    • New worries about the health of Greece's troubled banks have contributed to a selloff in European markets, one that has taken a toll on the continent's debt-laden telcos. The ECB is reportedly mulling a funding package for Greek banks.
    • Decliners: VOD -3.1%. TEF -4.2%. ORAN -4.5%. TI -6.5%. PT -3.9%.
    | 5 Comments
  • Oct. 9, 2014, 9:48 AM
    • Nomura's James Britton has downgraded  Vodafone (VOD -2.8%) to Neutral, and lowered his target by 10p to 180p.
    • Britton observes Vodafone trades at a slight forward EBITDA premium to peers (7x vs. 6.5x), and thinks competitive pressures could grow over the next 12 months.
    • He forecasts new market entrants in the U.K., India, and the Netherlands, tougher competition from existing carriers in Germany, South Africa, and Turkey, and further cannibalization of voice revenue by data services among European business clients.
    • U.S. shares are close to their 52-week low of $31.87.
    | 2 Comments
  • Jul. 25, 2014, 11:02 AM
    • On an organic basis (backs out forex and M&A), Vodafone's (VOD +2.6%) service revenue fell 4.2% Y/Y in FQ1 to £9.45B ($16.01B), a slightly bigger decline than FQ4's 3.8%.
    • European service revenue fell 7.9%, while all other markets grew 4.7%. However, the latter was down double-digits if forex is accounted for; weak Indian, Turkish, and South African currencies were responsible.
    • Vodafone's European mobile sub base fell by 1.77M to 127.1M - 878K subs were lost in Italy, 366K in Germany, and 236K in Spain. 80K were added in the U.K. With sub losses, declining voice/text revenue, and termination fee rate cuts taking a toll, service revenue fell 16.1% in Italy, 15.3% in Spain, 4.9% in Germany, and 3.2% in the U.K.
    • Mobile subs in all other markets grew by 6.37M to 303.7M (166.6M in India). 3.3M subs were added in India, and 3M by the African Vodacom unit. Service revenue grew 10.3% in India, and was flat in Vodacom markets (hurt by South African termination fee cuts). Europe is still 68% of service revenue.
    • £1.87B was spent on capex (£600M related to Project Spring), leading free cash flow to total -£582M. Net debt grew by £400M to £14.1B ($23.9B).
    • Press release (.pdf), earnings slides (.pdf)
    | 2 Comments
  • Jul. 21, 2014, 2:13 PM
    • Vodafone (VOD -0.8%) and Portugal Telecom (PT +4.3%) plan to "deploy and share" and fiber networks covering 900K Portuguese homes through a 25-year deal that begins in December.
    • Vodafone, which has set an ambitious goal of offering mobile/wireline bundles throughout Europe (through a mixture of M&A, investments, and partnerships), notes the deal furthers its effort to provide fiber to 1.5M Portuguese homes by mid-2015. 1M+ homes are already covered.
    • The company has previously said it's open to buying a Portuguese cable provider, as it continues battling with both PT and local cable leader Zon Multimedia.
    • Meanwhile, Vodafone's Egyptian unit (55%-owned) says it plans to spend $1.3B over the next 3 years to strengthen its mobile network, and is still exploring the idea of offering wireline services. Last year, Vodafone said it would spend £1.5B ($2.5B) through FY16 on expanding 3G coverage in Asia-Pac and Africa, via Project Spring.
    | Comment!
  • May. 16, 2014, 5:37 PM
    | 1 Comment
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Company Description
Vodafone Group PLC is engaged in providing voice and data communications services for all types of customers. The Company has presence in Europe, the Middle East, Africa, the Asia Pacific region and the United States.