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Vodafone Group PLC (VOD)

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daveh
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Re: Vodafone Group PLC (VOD)

#482346

Postby daveh » February 23rd, 2022, 12:12 pm

Vodafone to sell a partial stake in Indus Towers
https://www.investegate.co.uk/vodafone- ... 40165676C/

Vodafone Group Plc ("Vodafone") holds 757.8 million shares in Indus Towers Limited ("Indus"), equivalent to a 28.1% shareholding. 190.7 million of these shares, equivalent to a 7.1% shareholding, are currently pledged to Indus (the "Primary Shares") as part of the security arrangements entered into between Vodafone and Indus (the "Security Arrangements") at the time of the merger of Indus Towers with Bharti Infratel.

idpickering
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Re: Vodafone Group PLC (VOD)

#485294

Postby idpickering » March 9th, 2022, 8:32 am

MANDATORY CONVERTIBLE BOND AND ASSOC'D SHARE BUYBACK

In March 2019, Vodafone Group Plc ('Vodafone') issued a two-tranche mandatory convertible bond ('MCB'). The first tranche (£1,720,000,000 1.20 per cent.; ISIN XS1960588850) matured on Friday, 12 March 2021 and the second tranche (£1,720,000,000 1.50 per cent.; ISIN XS1960589668) will mature on Saturday, 12 March 2022.

Vodafone today announces that it has concluded its share buyback programme in relation to the first tranche of the MCB, as announced on 19 March 2021 (the '2021 Buyback Programme') neutralising the dilution that occurred on conversion of the first tranche of the MCB into Vodafone ordinary shares in March 2021. Vodafone will now commence a new irrevocable and non-discretionary buyback programme on 17 March 2022 (the '2022 Buyback Programme') following the maturity of the second tranche of the MCB.


https://www.investegate.co.uk/vodafone- ... 00061027E/

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Re: Vodafone Group PLC (VOD)

#500872

Postby idpickering » May 17th, 2022, 5:48 am

FY22 Preliminary results.

Good financial performance with growth in revenues, profits and cash flows
• Good service revenue growth in FY22 with continued growth in both Europe and Africa throughout the year
• Good financial performance in Germany with 1.1%* service revenue growth and 6.5%* Adjusted EBITDAaL
growth
• Strong step up in pre-tax ROCE of 1.7 percentage points to 7.2%, supported by operating profit growth of
11.1%
• Group revenue increased by 4.0% to €45.6 billion driven by service revenue growth in Europe and Africa
• Adjusted EBITDAaL growth of 5.0%* to €15.2 billion driven by good revenue growth and continued cost
transformation programme savings
• Adjusted free cash flow of €5.4 billion, with growth enabled by an increase in Adjusted EBITDAaL
• Total dividends per share are 9.0 eurocents, including a final dividend per share of 4.5 eurocents

And later;

Dividends

Dividends will continue to be declared in euros, aligning the Group’s shareholder returns with the primary
currency in which we generate free cash flow, and paid in euros, pounds sterling and US dollars. The foreign
exchange rate at which future dividends declared in euros will be converted into pounds sterling and US
dollars will be calculated based on the average World Markets Company benchmark rates over the five
business days during the week prior to the payment of the dividend.
The Board is recommending total dividends per share of 9.0 eurocents for the year. This includes a final
dividend of 4.5 eurocents compared to 4.5 eurocents in the prior year.
The ex-dividend date for the final dividend is 1 June 2022 for ordinary shareholders, the record date is 6 June
2022 and the dividend is payable on 5 August 2022. Dividend payments on ordinary shares will be paid directly
into a nominated bank or building society account.


https://investors.vodafone.com/sites/vo ... -final.pdf

idpickering
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Re: Vodafone Group PLC (VOD)

#516930

Postby idpickering » July 25th, 2022, 7:09 am

Q1 FY23 trading update.

Continued growth in both Europe and Africa, performance in line with expectations
• Group service revenue growth of 2.5%* (Q4: 2.0%*)
• Germany service revenue declined by 0.5%* (Q4: 0.8%*), largely reflecting the impact of the new
Telecommunications Act
• Europe growth supported by growth acceleration in the UK

Organic growth is a non-GAAP measure. All amounts marked in the commentary with an '*' represent organic growth. See page 8.
• Europe Consumer contract mobile ARPU grew by 0.7% year-on-year. We added 215,000 mobile contract
customers and lost 72,000 broadband customersin the quarter
• Vodafone Businessservice revenue growth of 1.7%*,supported by higher roaming and digitalservicesrevenue
• Growth in Africa supported by data revenue and financial services growth, as our M-Pesa customer base grew to
almost 50 million in the quarter
• Service revenue in Turkey increased to 35.8%*, driven by higher inflation, impacting Group service revenue growth
by an additional 0.3pp. Group service revenue growth excluding Turkey was 1.6%* (Q4: 1.4%*)
• On track to deliver FY23 guidance with Adjusted EBITDAaL expected to be between €15.0 – €15.5 billion and
Adjusted FCF of c.€5.3 billion

Nick Read, Group Chief Executive, commented:
“We have executed in line with our expectations, delivered another quarter of growth in both Europe and Africa, and
seen an acceleration in business growth. Whilst we are not immune to the current macroeconomic challenges, we’re
on track to deliver financial resultsfor the year in line with our guidance.
Our near-term focus on our operational and portfolio priorities remains unchanged. We’ve made good progress
towards stabilising our commercial performance in Germany, and we continue to actively pursue opportunities with
Vantage Towers and to strengthen our market positions in Europe.”


https://investors.vodafone.com/sites/vo ... elease.pdf

RNS here; https://www.investegate.co.uk/vodafone- ... 00065245T/

Ian.

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Re: Vodafone Group PLC (VOD)

#524232

Postby idpickering » August 22nd, 2022, 7:11 am

VODAFONE AGREES NON-BINDING TERMS IN RELATION TO THE SALE OF VODAFONE HUNGARY FOR €1.8 BILLION TO 4iG AND CORVINUS.

Vodafone Group Plc1 ("Vodafone") announces that it has entered into heads of terms with 4iG Public Limited Company ("4iG") and Corvinus Zrt ("Corvinus", a Hungarian state holding company) (all together the "Parties") in relation to the potential sale of 100% of Vodafone Magyarország Távközlési Zrt ("Vodafone Hungary") for a total cash consideration equivalent to an enterprise value of HUF 715bn (€1.8bn)2,3. This represents a multiple of 9.1x Adjusted EBITDAaL for the 12-month period ending 31 March 2022.

Vodafone Hungary is one of the leading converged network operators in Hungary and a combination with 4iG will create a clear #2 operator across mobile and fixed communications with broader ICT (Information and Communications Technology) capabilities. It also supports the Hungarian state's goal of creating a national ICT champion.

The combination with 4iG is complementary, with limited overlaps and the addition of Vodafone Hungary's infrastructure to the 4iG group will create a stronger competitor to the incumbent operator.

Nick Read, Chief Executive of Vodafone, said: "The Hungarian Government has a clear strategy to build a Hungarian owned national champion in the ICT sector. This combination with 4iG will allow Vodafone Hungary, which has a proud history of success and innovation in the country, to play a major role in the future growth and development of the sector as a much stronger scaled and fully converged operator. The combined entity will increase competition and have greater access to investment to further the digitalisation of Hungary."

The transaction is subject to completion of confirmatory due diligence, the Parties entering into binding transaction documentation and obtaining regulatory approval. The Parties are targeting completion by the end of 2022.

Vodafone's shared services business in Hungary - VOIS - is not included in the transaction perimeter and it will continue to provide services to Vodafone's other operating companies.



https://www.investegate.co.uk/vodafone- ... 00077421W/

Ian.

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Re: Vodafone Group PLC (VOD)

#530056

Postby idpickering » September 15th, 2022, 2:41 pm

KKR, GIP said to pursue Vodafone's towers division.

Vodafone shot higher on Thursday following a report that KKR & Co. and Global Infrastructure Partners are among private equity firms competing for a stake in the company’s wireless towers unit.


https://www.sharecast.com/news/news-and ... 31968.html

Ian.

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Re: Vodafone Group PLC (VOD)

#532642

Postby idpickering » September 27th, 2022, 8:05 am

ACTION PLAN AGREED FOR UNIVERSAL SMARTPHONE ACCESS.

The ITU/UNESCO Broadband Commission for Sustainable Development has ratified the first multi-stakeholder study aimed at creating practical tools and actions that could enable nearly 3 billion more people to access and use the internet through a smartphone by 2030.

Around a third of the global population still cannot or do not access the internet1. The adoption gap for mobile internet - which arises when individuals do not use the internet even when there is mobile network coverage in an area - is now over seven times larger than the coverage gap globally and is even larger in South Asia, sub-Saharan Africa and the Middle East and North Africa2.

A Broadband Commission Working Group on Smartphone Access was co-chaired by Nick Read, CEO of Vodafone Group, Houlin Zhao, Secretary General of the ITU and Heidi Schroderus-Fox/ Rabab Fatima, UN High Representatives for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS). The Working Group also included representatives from the governments of Benin and Ghana.


https://www.investegate.co.uk/vodafone- ... 00127092A/

Ian.

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Re: Vodafone Group PLC (VOD)

#533208

Postby idpickering » September 29th, 2022, 7:31 am

Vodafone announces Group Executive Committee changes.

Vodafone today announced the retirement of two members of its Group Executive Committee who have made significant contributions to the company over their years of service and whose leadership has ensured a smooth succession.


https://www.investegate.co.uk/vodafone- ... 00140578B/

Ian. (Who may well be topping up his VOD holdings next month).

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Re: Vodafone Group PLC (VOD)

#534441

Postby daveh » October 3rd, 2022, 1:09 pm

Possible Vodaphone and 3 merger in the UK.

https://www.investegate.co.uk/vodafone- ... 19415635B/

Vodafone Group Plc ("Vodafone") notes the recent press speculation in relation to Vodafone UK and Three UK.

Vodafone confirms that it is in discussions with CK Hutchison Holdings Limited ("CK Hutchison") in relation to a possible combination of Vodafone UK and Three UK.

The envisaged transaction would involve both companies combining their UK businesses, with Vodafone owning 51% and our partner CK Hutchison owning 49% of the combined business.

The relative ownership would be achieved through a differential leverage contribution at closing, and no cash consideration will be paid.

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Re: Vodafone Group PLC (VOD)

#535188

Postby idpickering » October 6th, 2022, 8:37 am

SAFARICOM ETHIOPIA SWITCHES ON ITS NETWORK.

Safaricom Ethiopia has today switched on its mobile telecommunications network and services in Addis Ababa, the country's capital city. Safaricom Ethiopia is also holding a ceremony today to mark its national launch.

The Ethiopian government launched Digital Ethiopia 2025 to help the country realise its digital potential and leverage technology to build a more prosperous society. As part of that process, Safaricom Ethiopia was granted a nationwide full-service Unified Telecommunications Service Licence and is the first company in the country to launch a competitive mobile service to Ethio Telecom, which is state-owned.

Safaricom Ethiopia's 2G, 3G and 4G mobile services are available in 11 cities from today, including the capital and the country's second largest city Dire Dawa. The company plans to launch services in a total of 25 cities by April 2023 to meet the 25% population coverage obligation in its licence. Safaricom Ethiopia is building a wholly-owned mobile network and also has infrastructure sharing and interconnection agreements in place with Ethio Telecom. Safaricom Ethiopia's vision is to transform lives through a digital future for all Ethiopians.

Safaricom Ethiopia is owned by an international consortium including Vodafone Group; Safaricom; Vodacom Group; Sumitomo Corporation - one of the largest international trading and business investment companies; and British International Investment (BII) - the UK's development finance institution and impact investor. This is the first joint investment project to be realised under the strategic alliance agreed by Vodafone and Sumitomo in November 2020 .

Nick Read, CEO of Vodafone Group, said : "We are excited to be part of this highly experienced international consortium, with a strong vision to advance Ethiopia's inclusive digital society, with clear goals to deliver greater prospects for education, jobs and prosperity."


https://www.investegate.co.uk/vodafone- ... 30009503B/

I hold VOD, and am toying with adding to my holdings soon perhaps?

Ian.

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Re: Vodafone Group PLC (VOD)

#538055

Postby idpickering » October 17th, 2022, 7:18 am

Vodafone and Altice to create FTTH JV in Germany.



Vodafone Group Plc ("Vodafone") and Altice ("Altice") today announce they are creating a joint venture ("FibreCo") to deploy fibre-to-the-home ("FTTH") to up to 7 million homes over a 6-year period.

Vodafone operates a leading next generation broadband network in Germany, currently offering up to 1Gbps connections to over 24 million homes. This partnership with Altice is complementary to Vodafone's clear upgrade plans for its existing hybrid fibre cable network. This includes bringing fibre connections closer to all connected homes through 'node splitting' and DOCSIS 3.1 'high split', which enables download speeds of over 3Gbps. These upgrade plans, coupled with next generation technology advances, such as DOCSIS 4.0, provide a path to 10Gbps speeds across our hybrid fibre cable network over time.

Key elements of FibreCo and its investment plans include:

· FibreCo will be owned 50% by Vodafone Germany and 50% by Altice

· FibreCo will construct and operate a FTTH broadband network available to up to 7 million homes (the "Roll-out")

- approximately 80% of the Roll-out will be focused around large housing associations in Vodafone's existing hybrid fibre cable network footprint which are interested in FTTH upgrades; and

- the remaining 20% of the Roll-out will be outside of Vodafone's current footprint, focusing on neighbouring homes

· FibreCo will offer wholesale access to all telecommunications service providers, to fully exploit the potential of the infrastructure

· FibreCo will benefit from Vodafone's commercial expertise and relationships with housing associations and Altice's unique FTTH roll-out, wholesale and operational expertise

· FibreCo has contracted Geodesia (a subsidiary of Altice) for the majority of Roll-out construction and maintenance

· The creation of FibreCo is expected to be completed in H1 2023


https://www.investegate.co.uk/vodafone- ... 00090188D/

Ian.

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Re: Vodafone Group PLC (VOD)

#541727

Postby idpickering » October 27th, 2022, 8:04 am

NEW RESEARCH SHOWS MOBILE FINANCE CAN INCREASE NATIONAL GDP.

https://www.investegate.co.uk/vodafone- ... 00072352E/

Ian.

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Re: Vodafone Group PLC (VOD)

#545158

Postby idpickering » November 9th, 2022, 1:29 pm

CO-CONTROL PARTNERSHIP FOR VANTAGE TOWERS.

· Strategic co-control partnership with long-term investors with significant expertise in digital infrastructure to accelerate Vantage Towers' growth and value creation

· Creation of a JV with GIP and KKR, to hold Vodafone's 81.7% stake in Vantage Towers which will be deconsolidated by Vodafone

· Attractive valuation of €32.0 per share, a premium of 19% to Vantage Towers' 3 month volume-weighted average share price and a multiple of 26x adjusted EBITDAaL for the 12 month period ended 31 March 2022

· JV to make a voluntary takeover offer for the outstanding Vantage Towers shares held by minority shareholders, funded through new debt in the JV and equity from GIP and KKR

· Minimum net cash proceeds to Vodafone of €3.2 billion, based on equity from GIP and KKR that is fully committed at signing and maximum minority take up in the voluntary takeover offer, which would reduce Vodafone's leverage by 0.2x

· Maximum net cash proceeds of €5.8-7.1 billion1, depending on the take up in the voluntary takeover offer and subject to GIP and KKR raising further equity before closing to increase their stake in the JV to 50%, reducing leverage by 0.4x-0.5x

· Transaction conditional on regulatory clearances and expected to close in the first half of 2023

Nick Read, Vodafone Group Chief Executive said: "This is a landmark moment for both Vodafone and Vantage Towers. This transaction successfully delivers on Vodafone's stated aims of retaining co-control over a strategically important asset, deconsolidating Vantage Towers from our balance sheet to ensure we can optimise its capital structure and generate substantial upfront cash proceeds for the Group to support our priority of deleveraging. We are excited to partner with GIP and KKR, both world-class investors who bring significant expertise in digital infrastructure and share our long-term vision for Vantage Towers as we collectively take the business to the next stage of its growth."

Will Brilliant, Partner and Head of Digital Infrastructure at GIP said: "We're delighted to join forces with Vodafone and KKR to invest in Vantage Towers, a high-quality European tower portfolio with strong upside potential. We are looking forward to capturing the exciting value-creating opportunities in the European telecoms infrastructure sector by advancing Vantage Towers' strategy and supporting its capacity to build new sites. As strategic partners with Vodafone and KKR, we will bring our deep infrastructure expertise and resources to help the company deliver the best data connectivity for individuals and businesses and contribute to enabling Europe's digital future in the interest of all stakeholders."

Vincent Policard, Partner and Co-Head of European Infrastructure at KKR said: "Together with our strategic partners Vodafone and GIP, we believe Vantage Towers' high-quality footprint and network across the region ideally position it to meet the ever-growing demand for mobile connectivity in Europe. We have a shared goal of creating a pan-European telecoms champion by continuing to grow and develop the business, leveraging the Consortium's significant telecoms infrastructure investment experience and global resources. At KKR we are long-term conviction investors in Europe's digital infrastructure and at Vantage Towers we intend to pursue value-creating investments to capitalise on the growth in this sector and to help drive consolidation in a fragmented market."


https://www.investegate.co.uk/vodafone- ... 26338294F/

Ian.

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Re: Vodafone Group PLC (VOD)

#546618

Postby idpickering » November 15th, 2022, 7:06 am

H1 FY23 results.

Resilient performance in Europe & Africa, good progress on operational & portfolio priorities
• Group service revenue growth of 2.5%* in the first half of FY23
• Adjusted EBITDAaL declined by 2.6%* driven by a material prior year legal settlement, and commercial
underperformance in Germany
• Pre-taxreturn on capital employed increased by 0.6 percentage points year-on-year to 6.9%
• Significant progress with portfolio strategy to create industrialscale, enable accelerated growth and unlock value.
• Group revenue growth of 2.0% to €22.9 billion, driven by service revenue growth and higher equipmentsales
• Operating profit increased by 12.0% to €2.9 billion, reflecting a higher share of income from associates and joint
ventures and lower depreciation and amortisation
• FY23 Adjusted EBITDAaL is expected to be €15.0 – 15.2 billion at the lower end of original guidance
• Interim dividend pershare of 4.5 eurocents, record date 25 November 2022.

And later;

Dividends
Dividends will continue to be declared in euros, aligning the Group’sshareholder returns with the primary currency in
which we generate free cash flow, and paid in euros, pounds sterling and US dollars. The foreign exchange rate at
which future dividends declared in euros will be converted into pounds sterling and US dollars will be calculated
based on the average World Markets Company benchmark rates over the five business days during the week prior to
the payment of the dividend.
The Board has announced an interim dividend per share of 4.50 eurocents (H1 FY22: 4.50 eurocents). The exdividend date for the interim dividend is 24 November 2022 for ordinary shareholders, the record date is 25
November 2022 and the dividend is payable on 3 February 2023. Dividend payments on ordinary shares will be paid
directly into a nominated bank or building society account.


https://investors.vodafone.com/sites/vo ... cement.pdf

Ian.

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Re: Vodafone Group PLC (VOD)

#547078

Postby idpickering » November 16th, 2022, 4:33 pm

Share Buyback Programme.

In March 2019, Vodafone Group Plc ('Vodafone') issued a two-tranche mandatory convertible bond ('MCB'), the first tranche of which (£1,720,000,000 1.20 per cent. Subordinated Mandatory Convertible Bonds; ISIN XS1960588850) matured on 12 March 2021, and the second tranche of which (£1,720,000,000 1.50 per cent.; ISIN XS1960589668) matured on 12 March 2022. On 9 March 2022 Vodafone announced that it had concluded its share buyback programme in relation to the first tranche of the MCB, neutralising the dilution that occurred on conversion of the first tranche of the MCB into Vodafone ordinary shares in March 2021. In order to satisfy the conversion of the second tranche of the MCB, 1,518,629,693 shares were issued from existing shares held in treasury. Between 17 March 2022 and 15 November 2022, Vodafone undertook an irrevocable and non-discretionary share buy-back programme to reduce the issued share capital of Vodafone to partially offset the increase in the issued share capital as a result of the maturing of the second tranche of the MCB. Vodafone today announces it will commence a new irrevocable and non-discretionary share buy-back programme (the 'New Programme'). The sole purpose of the New Programme is to further reduce the issued share capital of Vodafone to offset the increase in the issued share capital as a result of the maturing of the second tranche of the MCB. Following completion of the New Programme, the increase in the issued share capital as a result of the maturing of the second tranche of the MCB will be fully offset.

Further details of the New Programme

Vodafone has given irrevocable and non-discretionary instructions to Goldman Sachs International ('Goldman Sachs') in relation to the New Programme, which will commence on 16 November 2022 and will end no later than 15 March 2023 (the 'Designated Period'). Goldman Sachs will act as principal during the New Programme and will make its trading decisions concerning the timing of the purchases of Vodafone's ordinary shares independently of Vodafone.

The number of ordinary shares permitted to be purchased by Vodafone, pursuant to the authority granted by the shareholders at the Annual General Meeting of Vodafone on 26 July 2022 (the '2022 AGM'), is 2,816,463,347 ordinary shares. The number of ordinary shares to be purchased under the New Programme will not exceed 504,185,187 ordinary shares and is therefore within the 2022 AGM approved limit. The purchased shares will be held as treasury shares. The maximum amount allocated to the New Programme is £580 million (considering money received or paid under the accompanying option structure).

Any purchases of ordinary shares by Vodafone in relation to this announcement will be made on the London Stock Exchange and effected within certain pre-set parameters and in accordance with the authority granted by shareholders at the 2022 AGM, the Market Abuse Regulation 596/2014 as it forms part of domestic law by virtue of section 3 of the European Union (Withdrawal) Act 2018 (as amended) and Chapter 12 of the Listing Rules and will be discontinued in the event Vodafone ceases to have the necessary general authority to repurchase ordinary shares.

Details of the authority granted at the 2022 AGM can be found on our website under: https://investors.vodafone.com/sites/vo ... m-2022.pdf


https://www.investegate.co.uk/vodafone- ... 43516108G/

Ian.

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Re: Vodafone Group PLC (VOD)

#552283

Postby idpickering » December 5th, 2022, 7:19 am

VODAFONE GROUP CHIEF EXECUTIVE TO STEP DOWN AND APPOINTMENT OF INTERIM GROUP CHIEF EXECUTIVE.

Vodafone Group Plc ("Vodafone") announces that Nick Read has agreed with the Board that he will step down as Group Chief Executive and as a Director of Vodafone on 31 December 2022, following which he will be available as an adviser to the Board until 31 March 2023.

Margherita Della Valle has been appointed interim Group Chief Executive. She will accelerate the execution of the Company's strategy to improve operational performance and deliver shareholder value. In addition to being appointed interim Group Chief Executive, Margherita Della Valle will also continue as Group Chief Financial Officer. The Board has initiated a process to find a new Group Chief Executive.


https://www.investegate.co.uk/vodafone- ... 00045212I/

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Re: Vodafone Group PLC (VOD)

#554497

Postby idpickering » December 13th, 2022, 7:14 am

VODAFONE COMPLETES THE TRANSFER OF ITS 55% INTEREST IN VODAFONE EGYPT TO VODACOM.

Vodafone Group Plc1 ("Vodafone") has completed the transfer of its 55% shareholding in Vodafone Egypt to Vodacom Group Limited ("Vodacom"), its African subsidiary.

This transfer simplifies the management of Vodafone's African assets. Vodacom gains exposure to another leading business in an attractive market, diversifying its portfolio and accelerating its growth profile. Vodafone Egypt will benefit from closer co-operation with Vodacom, enabling it to accelerate growth in financial services and the Internet of Things.

Vodafone has been issued with 242 million shares in Vodacom and received cash proceeds of €577 million in exchange for its 55% shareholding in Vodafone Egypt.

Margherita Della Valle, Vodafone Group Chief Executive designate said: "With the completion of the transfer of Vodafone Group Plc's shareholding in Vodafone Egypt to Vodacom Group Limited, we are simplifying Vodafone Group's structure and supporting Vodacom and Vodafone Egypt for future growth."

Following completion, Vodafone's shareholding in Vodacom has increased from 60.5% to 65.1%.


https://www.investegate.co.uk/vodafone- ... 03075070J/

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Re: Vodafone Group PLC (VOD)

#554662

Postby idpickering » December 13th, 2022, 4:52 pm

LAUNCH OF VOLUNTARY TAKEOVER OFFER BY OAK HOLDINGS AS PART OF CO-CONTROL PARTNERSHIP FOR VANTAGE TOWERS.

· BaFin has today approved the publication of the offer document for Oak BidCo's voluntary takeover offer for Vantage Towers

· The acceptance period will be open from 13 December 2022 to 10 January 2023

· Offer price of €32.00 per share represents a 19% premium to the 3-month volume-weighted average share price, notified as the minimum price by the BaFin, as well as Grant Thornton's valuation, prepared in accordance with the IDW S 1 guidelines

· Oak BidCo has received an irrevocable undertaking from ANISE ASSET HOLDING PTE. LTD to accept the Takeover Offer, as Vodafone intends to do for the shares it acquired from DLM-TW Holdings S.À. R.L. and Oak BidCo will therefore hold a minimum of 88.2% of the outstanding Vantage Towers share capital at completion of the Takeover Offer

Vodafone Group Plc ("Vodafone") today notes the launch of the voluntary takeover offer for Vantage Towers AG ("Vantage Towers") by Oak Holdings GmbH ("Oak BidCo") following approval from the Bundesanstalt für Finanzdienstleistungsaufsicht ("BaFin") (the "Takeover Offer"). The Takeover Offer will be open to all minority shareholders of Vantage Towers.

The acceptance period will be open from 13 December 2022 to 10 January 2023. The Takeover Offer is not subject to a minimum acceptance threshold and is expected to close in H1 2023 following the receipt of all regulatory clearances.


https://www.investegate.co.uk/vodafone- ... 56395821J/

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Re: Vodafone Group PLC (VOD)

#557771

Postby idpickering » December 29th, 2022, 3:05 pm

Vodafone Announces Final Results Of Tender Offer.

(Newbury, Berkshire - England) - December 29, 2022 - Vodafone Group Plc ("Vodafone" or the "Company") announces the final results of its previously announced cash tender offer (the "Offer") to purchase up to $2,300,000,000 in aggregate principal amount (the "Aggregate Offer Limit") of its outstanding 4.375% Notes due May 2028 (the "Notes") upon the terms of, and subject to the conditions set forth in the offer to purchase dated November 29, 2022 (the "Offer to Purchase"). On December 2, 2022, the Company successfully completed an offering of New Notes, satisfying the New Financing Condition to the Offer.

The Offer expired at 5:00 p.m., New York City time, on December 28, 2022 (the "Expiration Time"). According to information provided by the Information and Tender Agent for the Offer, $2,099,496,000 aggregate principal amount of the Notes were validly tendered. This includes (i) $2,098,846,000 in aggregate principal amount of the Notes that were validly tendered and not validly withdrawn pursuant to the Offer at or prior to 11:59 p.m., New York City time, on December 12, 2022 (the "Early Tender Time"), and (ii) an additional $650,000 in aggregate principal amount of the Notes, validly tendered and not validly withdrawn after the Early Tender Time but at or prior to the Expiration Time. Subject to the satisfaction or waiver of the conditions to the Offer (as described in "Description of the Offer - Conditions to the Offer" in the Offer to Purchase), in the sole and absolute discretion of the Company, the Company will accept for purchase, and pay for, all of the Notes that were validly tendered and not validly withdrawn after the Early Tender Time but at or prior to the Expiration Time; such payment is expected to be made on December 30, 2022 (the "Final Settlement Date"). All Notes validly tendered and not validly withdrawn at or prior to the Early Tender Time and accepted for purchase were paid in full by the Company on December 14, 2022 (the "Early Settlement Date").


https://www.investegate.co.uk/vodafone- ... 03272048L/

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Re: Vodafone Group PLC (VOD)

#560191

Postby idpickering » January 9th, 2023, 7:05 am

Sale of Vodafone Hungary.

Further to the announcement on 22 August 2022, Vodafone Group Plc1 ("Vodafone") announces that 4iG Public Limited Company ("4iG") and Corvinus Zrt ("Corvinus", a Hungarian state holding company) (all together the "Parties") have completed due diligence and the Parties have entered into binding terms in relation to the sale of 100% of Vodafone Magyarország Zrt ("Vodafone Hungary") to 4iG and Corvinus (the "Transaction").

Vodafone will receive a total cash consideration of HUF 660bn (€1.7bn)2,3, which represents a multiple of 8.4x Adjusted EBITDAaL for the 12-month period ended 31 March 2022. Proceeds from the sale are intended to be used for deleveraging.

Margherita Della Valle, Vodafone Group's interim Chief Executive said: "This combination establishes a scaled converged operator across mobile and fixed communications and supports the Hungarian government's goal of creating a national Information and Communications Technology champion. The combined entity will increase competition and accelerate investment in the ongoing digitalisation of Hungary."

Completion of the Transaction is subject to customary conditions and is expected to take place in January 2023.


https://www.investegate.co.uk/vodafone- ... 00030659M/

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