Vodafone Group PLC (VOD)

[idpickering]

Vodafone Announces Executive Committee Changes.

https://www.investegate.co.uk/vodafone- ... 00034625M/

Ian.

[idpickering]

Global Recession Fears Catches Vodafone, plans hundreds of job cuts in London to rein in costs.

Vodafone, which has had a particularly challenging year and employs roughly 104,000 people globally, of which almost 9,400 are employed in the UK alone, has planned its biggest round of job cuts in five years.

https://www.inventiva.co.in/trends/glob ... 0employees.

Ian, who now doesn't hold VOD having sold mine on 09/01/23, and feeling better for having done so.).

[idpickering]

Sterling conversion rate announced yesterday as;

Dividend per share: 4.50 €c
Sterling equivalent: 3.959190 p

Ex-dividend date: 24 Nov 22
Payment date: 3 Feb 23

https://investors.vodafone.com/individu ... /dividends

Ian.

[absolutezero]

Ian, who now doesn't hold VOD having sold mine on 09/01/23, and feeling better for having done so.).

Same. Dog of share. Now invested the proceeds into a tracker fund.

[idpickering]

Ian, who now doesn't hold VOD having sold mine on 09/01/23, and feeling better for having done so.).

Same. Dog of share. Now invested the proceeds into a tracker fund.

Agreed. I’ve been seduced by the yield on offer from VOD, which is on shaky grounds anyway imho, more than once. No more. The monies released were invested in two solar income funds, BSIF and FSFL.

Ian.

[idpickering]

VODAFONE COMPLETES SALE OF VODAFONE HUNGARY.

Further to the announcement on 9 January 2023, Vodafone Group Plc1 announces it has completed the sale of Vodafone Magyarország Zrt ("Vodafone Hungary") to 4iG Public Limited Company and Corvinus Zrt for a cash consideration of HUF 660bn (€1.7bn)2, 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.

https://www.investegate.co.uk/vodafone- ... 40454548O/

Ian (No holding, (See above)).

[idpickering]

Vodafone Q3 FY23 Trading Update.

Europe slowing as expected, resilient performance in Africa

· Group service revenue growth of 1.8%* (Q2: 2.5%*), with the slowdown in quarterly trend driven by Europe

· In Europe, declines in Germany, Italy and Spain partially offset by good growth in UK and Other Europe. Quarterly trend impacted by lower roaming growth and phasing of Business revenue in FY22

· Portfolio progress: Vantage Towers strategic co-control partnership progressing towards completion, Vodafone Hungary disposal completed, transfer of Vodafone Egypt to Vodacom completed.

· Service revenue in Turkey increased by 52.9%* (Q2: 43.9%*), driven by high inflation. Group service revenue growth excluding Turkey was 0.5%* (Q2: 1.4%*)

· Broadening price actions across Europe, with 8 markets now operating inflation-linked pricing models

· Vodafone Business service revenue growth of 2.4%* (Q2: 3.4%*), driven by digital services

· Growth in Africa driven by data and financial services. We now have 73.5 million financial services customers in Africa (including Safaricom)

· Continuing to target updated FY23 guidance: Adjusted EBITDAaL €15.0 - 15.2 billion and Adjusted FCF c.€5.1 billion

https://www.investegate.co.uk/vodafone- ... 00074906O/

Ian.

[idpickering]

It seems the above hasn't been well received, with the VOD SP being down 2.6% as I type. As I mentioned hereabouts the other day, I've sold my VOD holdings. No regrets from me TBH.

Ian.

[idpickering]

VODAFONE CLOSES U.S.$1.2 BILLION DEBT SECURITIES OFFERING.

On 10 February 2023, Vodafone Group Plc ("Vodafone") closed a U.S.$1.2 billion debt securities offering. The securities offering included an offering of U.S.$700,000,000 5.625% Notes due February 2053 and U.S.$500,000,000 5.750% Notes due February 2063. Vodafone has applied to list the securities on the Nasdaq Global Market.

Vodafone has generated net proceeds of U.S.$1,183,901,000 from the sale of the debt securities. Vodafone intends to use these net proceeds (i) to fund the purchase of its 5.250% Notes due May 2048, 4.375% Notes due February 2043 and 5.000% Notes due May 2038 (collectively, the "Tender Offer Notes"), that are validly tendered (and not validly withdrawn) pursuant to its offers to purchase any and all of such Tender Offer Notes up to a cap of U.S.$2.0 billion aggregate principal amount of the Tender Offer Notes and (ii) for general corporate purposes.

https://www.investegate.co.uk/vodafone- ... 45336247P/

Ian (No holding).

[Bouleversee]

Lucky you, Ian. I am losing a fair bit on VOD.

[idpickering]

Lucky you, Ian. I am losing a fair bit on VOD.

Thanks Lorna. I have been in and out of VOD over the years, but the company debt etc got to me in the end. I did lose out on the sale though tbh, but I bit the bullet anyway. Good luck to holders, but I feel better being out of it. Imho the dividend yield they offered always seemed to good to be true.

Ian.

[Tedx]

Liberty takes a 5% bite of Vodafone.

https://www.msn.com/en-us/money/compani ... r-AA17rgl2

[Darka]

An abysmal share which can't even cover its own dividend - a cut must be on the cards, again....

Sold out a while ago, never regretted it - way too much debt.

[idpickering]

VODAFONE ANNOUNCES SALE OF VODAFONE GHANA.

Vodafone Group Plc (Vodafone) has completed the sale of its 70% shareholding in Vodafone Ghana (GTCL) (1) to Telecel Group.

Margherita Della Valle, Chief Executive of Vodafone, said:

"The sale of Vodafone Ghana to Telecel Group is a further step in simplifying Vodafone's African portfolio. Since entering the market in 2008, Vodafone has helped to develop Ghana's critical network infrastructure supporting customers, businesses and communities."

The transaction has received regulatory approval and agreement from the Government of Ghana which will retain its 30% minority shareholding in GTCL.

https://www.investegate.co.uk/vodafone- ... 30015541Q/

Ian.

[idpickering]

Completion of Vodafone and Altice Joint Venture in Germany.

Following the announcement on 17 October 2022, Vodafone Group Plc ("Vodafone") announced today that it has completed the sale of 50% of its German Fibre-to-the-Home company ("FibreCo" or the "JV") to Altice. The creation of the JV received European Commission approval last month.

https://www.investegate.co.uk/vodafone- ... 00032094S/

Ian (Who now holds VOD, again).

[idpickering]

VODAFONE ANNOUNCES GROUP EXECUTIVE COMMITTEE CHANGE.

Vodafone today announced that Vinod Kumar, CEO of Vodafone Business, will retire from Vodafone effective 31 December 2023 to pursue a portfolio career.

He will continue to lead Vodafone Business until the end of the year with specific focus on driving the development of our Internet of Things activity, including Digital Asset Broker, leading Vodafone's valued external partnerships and alliances and delivering our growth priorities. His successor will be named in due course.

Vinod joined Vodafone in 2019 and has been an Executive Committee Member since September 2019. Under his leadership Vodafone Business has accelerated its growth serving and supporting businesses of all sizes from large corporations to small and medium enterprises. Vodafone Business has consistently outperformed its large telco peers and expanded its services to businesses across Europe and Africa, in addition to launching platforms like VHub and Digital Asset Broker.

https://www.investegate.co.uk/vodafone- ... 00069274S/

Ian.

[daveh]

Completion of co-control agreement for vantage towers:
https://www.investegate.co.uk/vodafone- ... 35140624U/

Completion of Co-Control Partnership for Vantage Towers

Vodafone Group Plc ("Vodafone") announces the completion of its co-control partnership for Vantage Towers AG ("Vantage Towers") with a consortium of long-term infrastructure investors led by Global Infrastructure Partners and KKR (together the "Consortium").

Reflecting the final take-up in the connected voluntary takeover offer, the co-control partnership - Oak Holdings GmbH ("Oak Holdings") - will own 89.3% of Vantage Towers. Vodafone has received initial net cash proceeds of €4.9 billion and now holds a 64% shareholding in Oak Holdings. The Consortium continues to progress its fundraising process, targeting to increase its ownership of Oak Holdings up to a maximum of 50% by 30 June 2023, which would result in total net proceeds to Vodafone of up to €6.6 billion.

[idpickering]

Vodafone initiates squeeze-out of minority shareholders in KDG.

Vodafone Group Plc ("Vodafone Group") and its wholly-owned subsidiary Vodafone Vierte Verwaltungs AG ("Vodafone KDG") (together, "Vodafone") announce today the initiation of procedures for a statutory merger and squeeze-out of minority shareholders in Kabel Deutschland Holding AG ("KDG"). Vodafone KDG will acquire the shares of all KDG minority shareholders, and KDG will be merged into Vodafone KDG. Completion is targeted before the end of the FY24 fiscal year.

As of 30 September 2022, Vodafone owned 93.8% of KDG's share capital and, under the terms of a domination and profit and loss transfer agreement (the "DPLTA"), Vodafone has agreed to pay minority shareholders in KDG an annually recurring net compensation of €3.17 per KDG share in cash, and also agreed to purchase, upon demand, minority shareholders' KDG shares in cash (the "Put Option") at a price that increases every year. Consequently, the current effective cost of funding for Vodafone is 6.6%, which is significantly higher than its borrowing cost. For further details on the DPLTA please see 'Background to the Offer' in https://investors.vodafone.com/KDG_DPLTA .

https://www.investegate.co.uk/vodafone- ... 31276417U/

Ian (I hold).

[Tedx]

I think we're all waiting for the announcement of the Vodafone/Three merger.

Fingers crossed.

[idpickering]

I think we're all waiting for the announcement of the Vodafone/Three merger.

Fingers crossed.

Agreed. Ta for your input.

Ian.