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Vodafone Group plc (VOD)

- NASDAQ
  • Feb. 24, 2014, 9:11 AM
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  • Feb. 21, 2014, 11:20 AM
    • Verizon (VZ -0.3%) has officially completed its $130B purchase of Vodafone's (VOD +0.5%) 45% stake in Verizon Wireless. As previously announced, Verizon is issuing 1.27B shares to Vodafone (current value of $61B), and paying for the rest of the deal in cash.
    • Vodafone says it will return $23.9B of the cash to shareholders in addition to distributing the Verizon shares (previous), leading to a total return of $85B. All signs suggest the carrier will use a chunk of the remaining post-tax windfall to go acquisition-hunting.
    • Verizon reiterates the deal will immediately be accretive to EPS by 10%. Over the long haul, it's expected to give Verizon more flexibility to integrate its wireline and mobile services, and to cut overhead by combining redundant divisions.
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  • Feb. 19, 2014, 3:04 AM
    • Vodafone (VOD) will divide up 1.27B Verizon Communications (VZ) shares to its investors as part of the distribution it's making following the $130B sale of its 45% stake in Verizon Wireless.
    • Vodafone stockholders will receive 0.026 of a share in Verizon Communications for each Vodafone share they own.
    • The U.K. carrier's shares are due to be consolidated on Monday at the rate of 6 new shares for 11 existing shares after the Verizon transaction closes on Friday.
    • Based on closing stock prices and currency rates yesterday, for example, a Vodafone stockholder would receive £0.72 in Verizon shares and £0.30 in cash for each Vodafone share they hold. (PR)
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  • Feb. 13, 2014, 4:05 PM
    • Two months after spending $1.6B to buy out its Indian minority investors, Vodafone (VOD +0.4%)  is spending $3B (not all of it due right away) to acquire Indian spectrum in the rural/building-friendly 900MHz. band. Top rival Bharti Airtel is spending a similar amount.
    • The spectrum can be used to offer 3G and 4G services, and covers the key cities of Mumbai, Delhi, and Kolkata. Vodafone CEO Vittorio Colao recently argued the relatively poor state of India's wireline telecom infrastructure will yield a larger mobile data opportunity.
    • The purchase comes shortly after reports emerged that Vodafone's talks with the Indian government to resolve a $2B tax dispute have broken down.
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  • Feb. 12, 2014, 4:06 AM
    • Grupo Corporativo ONO has confirmed that its board has approved a proposal for the Spanish cable operator to start the process for a €7B ($9.6B) IPO but that directors didn't discuss any buyout proposals.
    • ONO has reportedly rejected offers from Vodafone (VOD) and Liberty Global (LBTYA).
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  • Feb. 11, 2014, 1:41 PM
    • Spain's La Vanguardia reports local cable giant ONO has rejected buyout offers from Vodafone (VOD +0.5%) and Liberty Global (LBTYA +1.5%), and plans to pursue a 1H14 IPO.
    • Vodafone, hungry to expand its European wireline footprint, was reported over the weekend to have made a formal offer for ONO. Bloomberg later reported a bid would need to be in the €7B-€8B ($9.5B-$10.9B) range to win board approval.
    • Yesterday: Vodafone open to building conglomerate, has big M&A budget
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  • Feb. 10, 2014, 7:05 PM
    • "If other opportunities arise to create a bigger—I would say the Unilever of telecom—a big company that has fixed mobile and possibly entertainment and enterprise services, then of course we'll go after them," says Vodafone (VOD) CEO Vittorio Colao during a CNBC talk. He adds Vodafone "might be looking at a number of places in emerging markets and in mature markets and consolidation opportunities."
    • During a separate talk, Colao says Vodafone, flush with Verizon Wireless cash, might have $30B-$40B to spend on M&A in the coming years, assuming it maintains its 2:1 debt/EBITDA target ratio.
    • The remarks come as a fresh report emerges of Vodafone's interest in Spanish cable provider ONO (previous). Colao suggests Vodafone, which bought German cable provider Kabel Deutschland last year, is keen on building its wireline footprint in Europe, and on expanding its mobile reach in emerging markets.
    • Discussing India, Vodafone's biggest emerging market, Colao points out the country's relatively poor wireline infrastructure spells a larger opportunity for mobile data services.
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  • Feb. 9, 2014, 1:11 AM
    • Vodafone (VOD) has made a formal offer for Spanish cable operator Grupo Corporativo ONO, the Expansion newspaper reports.
    • However, Reuters sources provide conflicting information: one says that talks are continuing, while two others say that no offer would be made.
    • Vodafone is vying with Liberty Global (LBTYA) to acquire the firm, which has also been considering an IPO.
    • Any deal for ONO, which one analyst says could be worth an estimated €6.4B ($8.7B) including debt, would add to Vodafone's acquisition of other cable providers in Europe such as Kabel Deutschland in Germany.
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  • Feb. 6, 2014, 3:27 AM
    • Vodafone (VOD) FQ3 revenue dropped 3.6% to £10.98B but topped consensus of £10.86B ($17.91B) .
    • Organic group service revenue -4.8%. In Europe, where Vodafone said conditions "are still difficult," sales dropped 9.6%, with Germany -7.9%, the U.K. -5.1% and Italy -16.6%. In Africa, Middle East & Asia Pacific, the figure rose 5.5%.
    • Revenue was hurt by price competition in Germany and the U.K., as well as by weak southern European markets.
    • However, the company said "the shift to 4G is gaining momentum," so it's optimistic that its "revenue performance will begin to improve."
    • Vodafone reiterated its fiscal-year guidance for adjusted operating profit of £5B and free cash flow of £4.5-5B.
    • The company didn't disclose profit figures.
    • Shares are +1.5% in London. (PR)
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  • Jan. 29, 2014, 12:22 PM
    • Though it recently gave up the opportunity to make a bid for Vodafone (VOD +1.9%) within the next six months, AT&T (T -1.6%) remains interested in a possible deal for the giant international carrier, sources tell Bloomberg.
    • The news service adds AT&T's recent decision came after U.K. regulators demanded the company either deliver a formal bid for Vodafone within 28 days on account of ongoing reports, or walk away for six months. Ma Bell reportedly chose the latter in order to avoid "negotiating under such a tight deadline and because of the possibility of exemptions from the moratorium."
    • Vodafone shares have caught a bid on the report, which comes a day after AT&T beat Q4 estimates, but also reported soft subscriber adds and forecast a ~19% 2014 free cash flow decline.
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  • Jan. 27, 2014, 3:43 AM
    • Vodafone's (VOD) shares have slumped 6.4% in London after AT&T (T) said it has no intention of making an offer for the U.K. telecom operator.
    • AT&T made a statement to the London Stock Exchange in response to a request from the the U.K.'s Takeover Panel following much speculation that the U.S. provider was interested in Vodafone after the latter agreed to sell its 45% stake in Verizon Wireless to Verizon for $130B last year.
    • The statement means that AT&T can't make an offer for Vodafone for the next six months unless the British company agrees to it, another firm makes a proposal, or the authorities decide that circumstances have changed materially. (PR)
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  • Jan. 27, 2014, 2:51 AM
    • AT&T (T) has no intention of making an offer for Vodafone (VOD), the U.S. company said today in response to speculation about a possible deal. (PR)
    • Meanwhile, Vodafone is in talks to acquire Spain's Grupo Corporativo ONO before the cable operator carries out an IPO, Bloomberg reports.
    • Any deal for ONO, which one analyst says could be worth an estimated €6.4B ($8.7B) including debt, would add to Vodafone's acquisition of other cable providers in Europe such as Kabel Deutschland in Germany.
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  • Jan. 20, 2014, 5:34 AM
    • The enemy of my enemy is my friend : Vodafone (VOD) and BSkyB (BSYBF) have reportedly held talks about how to compete with BT's (BT) increasing reach in the British broadband market, the U.K.'s Sunday Times reports.
    • Vodafone (VOD) and Sky are considering deals involving the latter's sports and film channels and on co-operating on a high-speed broadband service.
    • However, the two are unlikely to construct a nationwide fiber network, as such a project would cost several billion pounds.
    • The talks come after a resurgent BT gained on its rivals by investing over £3B in a high-speed fiber-optic network and another £2B in sports broadcast rights.
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  • Jan. 3, 2014, 4:30 AM
    • Vodafone (VOD) is in reportedly early discussions to acquire Tata Group's 59.45% stake in Tata Teleservices in a deal that would create India's largest telco with 248M subscribers.
    • However, Japan's NTT DoCoMo (DCM), which owns just over a quarter Tata Teleservices, has a right of first refusal on the majority holding.
    • Should Vodafone prevail, it would look to acquire all of Tata Teleservices, whose market cap is 16.28B rupees ($261M).
    • Meanwhile, Vodafone Egypt has been accused of inciting terrorism by incorporating secret messages supporting the Muslim Brotherhood in an advertisement.
    • Vodafone has denied the allegations, which Egyptian prosecutors are investigating amid an intensifying crackdown on the Muslim Brotherhood by the military government that deposed it.
    • The accusations add another headache for multinationals that operate in Egypt to go with political instability, security worries and economic uncertainty.
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  • Dec. 30, 2013, 12:02 PM
    • After delaying its decision earlier this month, India's foreign investment regulator has signed off on Vodafone's (VOD -0.4%) to $1.6B deal to acquire the 15.5% stake in its Indian subsidiary that it doesn't already directly or indirectly own.
    • In tandem with the deal, Vodafone has committed to investing $2B through its Indian unit. The subsidiary claims over 154M subs (#2 overall) in a market still seeing healthy growth, making it a crucial part of Vodafone's emerging markets expansion efforts.
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  • Dec. 24, 2013, 9:24 AM
    • The Daily Mail reports there are "growing rumors" Vodafone (VOD) will use part of its $130B Verizon Wireless windfall on a bid for British satellite TV/broadband services provider BSkyB (BSYBY). BSkyB's shares are currently up 2.5% in London; the company's market cap stands at $21.6B.
    • Vodafone, fresh off spending $14.2B to acquire German cable provider Kabel Deutschland, has made no secret of its goal to be only European carrier to offer both mobile and wireline services across the continent, via a mixture of acquisitions, investments, and partnerships. The company has said it will return 71% of its Verizon Wireless proceeds to shareholders, but that still leaves plenty of cash for M&A.
    • BSkyB has 10.4M subs, over 1/3 of which subscribe to a triple-play package of TV, broadband , and phone services.
    • While Vodafone is rumored to be mulling acquisitions, AT&T is widely rumored to be interested in buying Vodafone. Vodafone CEO Vittorio Colao has suggested he's open to an offer.
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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.