Vodafone mulls Vantage Towers offers from private equity - report
The offers are for a majority stake in the company that was listed in Frankfurt last year
Company
LON:VOD
Vodafone Group PLC is a mobile telecommunications company, with a significant presence in Europe, the Middle East, Africa, Asia Pacific and the United States.
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The offers are for a majority stake in the company that was listed in Frankfurt last year
The 28.1% stake in total was valued at around US$2.6bn based on the last closing price
Reports of consolidating business in Europe have intensified over the last week
Stories have been circulating for a number of weeks linking Vodafone Italia with Iliad’s Italian arm
Reports in the past month had linked the group with a merger with Three UK and Italian mobile group Iliad.
There are at least 12 companies in the FTSE 350 with activist funds on the share register, including Vodafone, GSK and Unilever
The mobile phone giant reaffirmed its guidance for its current financial year, forecasting adjusted underlying earnings of €15.2-15.4bn and adjusted free cash flow of at least €5.3bn
The Swedish hedge fund has neither declared the size of its stake nor explained publicly what its intentions are
A source close to Cevian suggested the fund had been in contact with the FTSE 100 group for some months now
Vodafone tweaked its earnings forecasts for the year higher
The UK blue chip index ends the day down while positive updates boost US markets
The transfer will enhance the financial services and connectivity in Egypt, and accelerate growth in smart technology
Shares in FTSE 100 group have slumped since its last trading update
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Britain's blue chip index finished up around 59 points, or 0.85%, at 7,027, just shy of the session high at 7,033
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Updates from Vodafone and Premier Foods will likely dominate the corporate agenda while macro-minded investors will chew over UK retail sales and the flash PMI estimates
The spectrum has initial holding rights until 2041
Shares have slumped 20% since a trading update in May
The group progresses towards the goal of reducing its own carbon emissions to net-zero by 2030
The Swiss bank rates Vodafone as 'outperform' but says changes are needed for shares to recover.
Other companies that have paused or removed ads from the recently launched right-wing news channel include Ovo Energy, Nivea and Grolsch