Quote:
Vodafone's Three takeover progress in focus after recent disposals
Published: 14:14 30 Jan 2025 GMT
Written by: Josh Lam
Vodafone Group PLC’s third quarter update next Tuesday, February 4 follows disposals as the telecommunications firm readies for its £15 billion merger with Three.
Having received the greenlight for the takeover by the Competition and Markets Authority in December, Vodafone has since completed disposals of its Italian wing and stake in Indus Towers.
Proceeds of the respective £6.6 billion and £269 million sales were said to have gone on the likes of reducing debt and boosting shareholder returns.
Attention in the forthcoming update is set to be on progress of the Three tie-up as a result, which the CMA said was conditional on commitments to invest £11 billion on 5G ahead.
The deal has been expected to complete in the first half of this year, before paving way for efficiency savings in excess of £7 billion over the coming years.
Shares are little changed from a year ago, though have dropped over 6% in the past six months.
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An 11 billion investment with 7 billion in cost cutting. Don't be tight just expand the network!