Tag: Vodafone Group

Vodafone Shares Rise After Iliad Group Proposes Merger of Italian Operations
World

Vodafone Shares Rise After Iliad Group Proposes Merger of Italian Operations

Updated Dec. 18, 2023 3:59 am ETShares of Vodafone Group rose 4.6% after Iliad Group said that it has put forward a proposal to the company to merge their Italian businesses in a deal that values Vodafone Italia at 10.45 billion euros ($11.38 billion).The European telecom company said Monday that it is planning to create a new company jointly owned with Vodafone that will combine their Italian businesses.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Vodafone Group Posts Lower Pretax Profit on Previous Business Disposals
World

Vodafone Group Posts Lower Pretax Profit on Previous Business Disposals

Vodafone Group has reiterated its full-year guidance as it reported a much lower pretax profit for the first half of fiscal 2024, reflecting adverse foreign-exchange rate movements and business disposals in the prior year.The U.K. telecommunications company said Tuesday that it expects to report underlying earnings before interest, taxes, depreciation, amortization and lease expenses of 13.3 billion euros ($14.23 billion) for the year ending March 31 compared with EUR14.7 billion in fiscal 2023. Adjusted free cash is seen at around EUR3.3 billion, from EUR4.84 billion.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Vodafone to Sell Spanish Unit to Zegona Communications for Around $5.3 Bln
World

Vodafone to Sell Spanish Unit to Zegona Communications for Around $5.3 Bln

Updated Oct. 31, 2023 4:07 am ETVodafone Group has agreed to sell its Spanish unit to European telecommunications investment company Zegona Communications for an enterprise value of around 5 billion euros ($5.31 billion).The U.K.-based telecommunications group on Tuesday said the deal is for 100% of Vodafone Spain.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Vodafone nears stake sale in $5.3 bn Spanish unit to Zegona: Report
Business

Vodafone nears stake sale in $5.3 bn Spanish unit to Zegona: Report

By Elffie Chew and Manuel Baigorri Vodafone Group Plc is close to selling a stake of at least 50% in its Spanish business to Zegona Communications Plc in a deal that values the asset at more than €5 billion ($5.3 billion), according to people familiar with the matter. The firms are finalizing details of a transaction and an announcement could come in the coming days, the people said. London-based Zegona, an acquisition vehicle, has beaten out other bidders including private equity firm RRJ Capital in the process, the people said. While discussions are at an advanced stage, they could still be delayed or even falter, according to the people. Vodafone didn’t immediately respond to a request for comment made outside of normal business hours. A spokesman for Zegona reitera...