Vodafone Group PLC

Vodafone Group provides mobile and fixed telecommunication services including: access charges, voice and video calls, messaging, interconnect fees, fixed and mobile broadband and related services such as providing televisual and music content, connection fees and equipment sales. Co. provides a range of consumer products and services including mobile, fixed voice, broadband and television, financial as well as other services to operators outside its footprint. Co. also provides a range of enterprise products and services including total communications such as mobile, fixed and a suite of converged communications services, internet of things, cloud and hosting and carrier services.
  • TickerVOD
  • ISINGB00BH4HKS39
  • ExchangeLondon Stock Exchange
  • SectorMobile Telecommunications
  • CountryUnited Kingdom

Analysts

Philip Morrish

Value Indicator - UK Main Market 16092019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Utilities 16092019

Currently '(TM)Value Indicator - UK utilities' is a value analysis of the Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provide the reader with indicative longer-term target prices.

Vodafone Group Plc: Update to credit analysis

Our credit view of Vodafone, reflecting its size and geographical diversification, as well as its high leverage following the acquisition of certain Liberty Global assets.

Philip Morrish

Value Indicator - UK Utilities 09092019

Currently '(TM)Value Indicator - UK utilties' is a value analysis of the Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 09092019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target providers

Vodafone Group Plc: Update to credit analysis

Our credit view of Vodafone, reflecting its size and geographical diversification, as well as its high leverage following the acquisition of certain Liberty Global assets.

Vodafone Group Plc: Tower deals have operational benefits, but deleveraging potential from a minority stake sale/IPO of TowerCo is unclear

Optimizing Tower Utilization via Network Sharing Arrangements has operational benefits, but deleveraging potential from future sale/ IPO of a minority stake in the new TowerCo is unclear

Vodafone Group Plc: 40% Dividend Cut & New Zealand Subsidiary Disposal Are Credit Positive

40% dividend cut and New Zealand subsidiary disposal will help accelerate deleveraging and improve free cash flow generation

Moody's assigns Ba1 ratings to Vodafone's new hybrid securities; outlook negative

Rating Action: Moody's assigns Ba1 ratings to Vodafone's new hybrid securities; outlook negative. Global Credit Research- 04 Apr 2019. Madrid, April 04, 2019-- Moody's Investors Service has today assigned a Ba1 rating to Vodafone Group Plc's issuance of USD 2 billion subordinated fixed rate reset 10 year capital securities due 2079. The outlook is negative.

Vodafone Group Plc: Vodafone’s mandatory convertibles with related hedging are economically similar to debt

The combination of the mandatory convertible with the share price hedging mechanism are economically akin to a debt instrument given the potential maximum loss on the short put option

Michael Hodel

Morningstar | Slow Growth and Hefty Spectrum Costs Weigh on Vodafone's Cash Flow

Vodafone has transitioned from one of the world’s largest wireless telecom firms to a diversified operator offering converged mobile and fixed-line services in many markets. This shift comes as many of its core wireless markets have fully matured and competition has intensified. As a result, growth has stalled and capital needs have increased, pressuring the balance sheet. Shareholders likely face a bumpy year as Vodafone pushes to close its deal with Liberty Global, continue building fixed-line networks, fend off competition, and prepare for 5G wireless deployments.The acquisitions of Kabel D...

Michael Hodel

Slow Growth and Hefty Spectrum Costs Weigh on Vodafone's Cash Flow

We were disappointed Vodafone chose to cut its dividend before it received regulatory approval to acquire Liberty Global’s operations in Germany, Romania, Hungary, and the Czech Republic. However, on the call, the CEO was very positive that the remedy package Vodafone offered in response to the regulator's concerns will suffice for the deal to be approved. That said, we are still not wholly convinced regulators will sign off. Thus, we continue to exclude the acquisition from our model. The firm...

Allan C. Nichols

Morningstar | Lowering FVE Due to Slower Revenue Recovery in Spain and Italy and Higher Spectrum Costs

Vodafone is successfully transitioning from one of the world’s largest wireless-only telecom firms to a diversified operator offering converged mobile and fixed-line services in many markets. We think this is an important transition, as Europe is rapidly moving into a converged world. The acquisitions of Kabel Deutschland in Germany, Ono in Spain, and Cable & Wireless Worldwide in the United Kingdom provide Vodafone with some key fixed-line infrastructure in three of its biggest European markets. The firm has also laid significant amounts of its own fibre in Italy and has signed an agreement w...

Allan C. Nichols

Lowering FVE Due to Slower Revenue Recovery in Spain and Italy and Higher Spectrum Costs

We were disappointed Vodafone chose to cut its dividend before it received regulatory approval to acquire Liberty Global’s operations in Germany, Romania, Hungary, and the Czech Republic. However, on the call, the CEO was very positive that the remedy package Vodafone offered in response to the regulator's concerns will suffice for the deal to be approved. That said, we are still not wholly convinced regulators will sign off. Thus, we continue to exclude the acquisition from our model. The firm...

Allan C. Nichols

Morningstar | Vodafone Disappointingly Cut Its Dividend; Other Results Mixed; Likely Cut FVE; Shares Undervalued

We were disappointed Vodafone chose to cut its dividend before it received regulatory approval to acquire Liberty Global’s operations in Germany, Romania, Hungary, and the Czech Republic. However, on the call, the CEO was very positive that the remedy package Vodafone offered in response to the regulator's concerns will suffice for the deal to be approved. That said, we are still not wholly convinced regulators will sign off. Thus, we continue to exclude the acquisition from our model. The firm reported mixed fiscal 2019 results with revenue a bit weaker than expected as Spain and Italy conti...

1 director bought

A director at Vodafone Group bought 229,048 shares at 153p and the significance rating of the trade was 91/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board m...

Global TMT: US Cable & Wireless, VOD, ERIC, Hong Kong, Naspers

Global TMT: US Cable & Wireless, VOD, ERIC, Hong Kong, Naspers Chris Hoare 0 chris @newstreetresearch.com

Alexandre Iatrides ...
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Olfa Taamallah
  • Rémi Adam
  • Stephane Houri
  • Veysel Taze
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/25/2019

On 30 January, Atos is to host a CMD at which we expect management to adopt an upbeat stance on targets for growth, margins and FCF to beat expectations which have been very low since October 2018. The levers to achieve these targets are credible, in our view. Cf. report published today. - ...

Alexandre Iatrides ...
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Olfa Taamallah
  • Rémi Adam
  • Stephane Houri
  • Veysel Taze
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/01/2019

Le 30 janvier, le management d’Atos devrait mener un CMD offensif et proposer des objectifs de croissance, de marge et de FCF supérieurs aux attentes, qui ont bien baissé depuis octobre dernier. Et les leviers à actionner nous semblent crédibles. Cf. étude publiée ce jour. - ...

Soomit Datta

Global TMT: China, ASML, INTEL, LILA/MIC, SBAC, VOD/TEF UK, New Oriental

Global TMT: China, ASML, INTEL, LILA/MIC, SBAC, VOD/TEF UK, New Oriental For further details, please contact Soomit Datta on 8 or email , or Charlie Gaynor 1 or email {MSG CHARLIE GAYNOR }

Global TMT: C-Band, TEF, TPG-VHA, Thai 700Mhz, VEON, Tef Brasil US/China Trade Impact

Global TMT headlines: C-Band Update: Reply Comments Filed; Gaps Still Remain; AT&T Makes A New Proposal. Telefonica (Buy) - rumours on Elliott interest. ACCC raises competition issues with TPG-VHA merger. Thai 700Mhz auction price set. VEON (Buy) confirms acting CEO will become permanent CEO. CLIENT CALL: US/CHINA TRADE NEGOTIATIONS OVERVIEW.

Philip Morrish

Value Indicator - UK Main Market 16092019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Utilities 16092019

Currently '(TM)Value Indicator - UK utilities' is a value analysis of the Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provide the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Utilities 09092019

Currently '(TM)Value Indicator - UK utilties' is a value analysis of the Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 09092019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target providers

Philip Morrish

Value Indicator - UK Utilities 02092019

Currently '(TM)Value Indicator - Utilities' is a value analysis of the Telecom and Utility secors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative target prices.

MarketLine Department

EE Limited - Strategy, SWOT and Corporate Finance Report

Summary EE Limited - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights EE Limited (EE), a subsidiary of BT Group, is an advanced digital communications company. The company operates mobile networks and offers Internet services catering to the requirements of its household, individual and business customers. Its portfolio of services includes a wide range of wireless...

MarketLine Department

BT Group plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's BT Group plc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by BT Group plc since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlight...

MarketLine Department

Bharti Airtel Limited - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Bharti Airtel Limited Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Bharti Airtel Limited since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advanta...

MarketLine Department

Reliance Communications Limited - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Reliance Communications Limited Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Reliance Communications Limited since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its...

MarketLine Department

Sky plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Sky plc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Sky plc since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights This re...

Expert Corporate Governance Service (ECGS)

Vodafone Group, 23 July 2019

Leadership changes Vittorio Colao was succeeded by Nick Read who was appointed Chief Executive Designate on 27 July 2018 and became Chief Executive on 1 October 2018. Margherita Della Valle joined the Board as Chief Financial Officer on 27 July 2018. Item 15: Advisory vote on the Remuneration ReportThe structure is unsatisfactory. The maximum bonus and total incentive pay exceed guidelines. The quantum for the year was excessive. Pay weighted more towards rewarding long-term performance, but there are overlapping performance conditions as free cash flow was used for both the STI and LTI. A b...

Vodafone – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Vodafone Group PLC - Proxy report - 27/07/2018

Leadership Changes The current CEO, Vittorio Colao, has resigned, though he will continue with the Companyuntil September 30, 2018. On October first, Nick Read, current Chief Financial Officer,will assume the role of CEO while Margherita Della Valle, currently Deputy Chief Financial Officer, will suceed Mr. Read as CFO. Item 15: Approve the Remuneration Report The structure is weighted more towards rewarding long-term performance. However,both potential and actual incentive pay was excessive. Furthermore, there are overlapping performance conditions as FCF was used for both the STI and LTI.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Buoyed by outperformance in the US, the MSCI ACWI is the only broad global index that has yet to make a lower low relative to the lows set in June. This deterioration for ACWI ex-US, EAFE, and EM, continued bearish-leaning indicators, and continued downside volatility in bond yields leads us to remain cautious and concerned that global equities remain vulnerable and could be poised for additional weakness moving forward. • Additional bearish-leaning developments. In addition to the concerns we have highlighted over the past several weeks, new negative developments continue to plague the glob...

Jérôme VINERIER

Analyse court terme - VODAFONE : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 143,30 p. La tendance de fond serait remise en cause en cas de franchissement de 171,80 p.

Jérôme VINERIER

Short term view - VODAFONE : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at 143.30 p. The background trend would be questioned should prices rise above 171.80 p.

Jérôme VINERIER

Analyse court terme - VODAFONE : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 143,30 p, puis 130,43 p. Le franchissement de 171,80 p remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - VODAFONE : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at 143.30 p, then 130.43 p. Passing 171.80 p would question the continuation of the fall.

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