Vodafone

Ticker VOD

Today's data summary

Market open
% change
-0.47%
Price Pence
168.02
Change
-0.80
As of 12:41 20 Sep 2018
Market cap. Pound sterling
44,876.23 million
As of 12:39 20 Sep 2018

Latest updates

New telecoms giant born in Australia

Woman walks past Vodafone store in Melbourne (Aug. 30, 2018)
Getty Images

Vodafone's Australian operations will become part of a new telecoms giant in a A$15bn merger announced on Thursday.

Combining Vodafone Hutchison Australia and TPG Telecom will create a mobile, fixed-line and broadband provider with the scale to rival Telstra and Optus.

Vodafone Australia, owned by Hong Kong-based CK Hutchison and Vodafone Group, will have a majority 50.1% stake.

TPG will hold the remainder of TPG Telecom Limited, which will be listed on the Australian Securities Exchange.

Damaged cable to blame for Gatwick 'chaos'

Vodafone, which provides IT services for Gatwick Airport, has said a damaged cable is to blame for the display failures at the airport.

In a statement, the company said: "We have identified a damaged fibre cable which is used by Gatwick Airport to display flight information.

"Our engineers are working hard to fix the cable as quickly as possible.

"This is a top priority for us and we are very sorry for any problems caused by this issue.

"We are keeping Gatwick Airport constantly informed of progress."

Royal Mail tops Ofcom's largest fines

Royal Mail's fine by Ofcom is the largest the watchdog has ever imposed. Here, if you are interested, are the top ten:

  1. Royal Mail fined £50m in August for breaking competition law
  2. BT fined £42m in March 2017 for reducing wholesale compensation
  3. ITV fined £5.6m in May 2008 for broadcast competitions and voting
  4. Vodafone fined £3.7m in October 2016 for billing failures
  5. TalkTalk and Tiscali fined £3m in August 2011 for billing failures
  6. EE fined £2.7m in January 2017 for billing failures
  7. GMTV fined £2m in September 2007 for broadcast competitions and voting
  8. Channel Four fined £1.5m in December 2007 for broadcast competitions and voting
  9. GCap Media fined £1.1m in June 2008 for broadcast competitions and voting
  10. EE fined £1m in July 2015 for complaints handling failures

Vodafone: Tough times, but some success

Mobile phone user
Getty Images

Vodafone reported a fall in sales in its most recent quarter.

George Salmon, equity analyst at Hargreaves Lansdown had this comment on those results.

“The long-standing problems with telecoms is that consumers want a better deal every time they renew a contract, and there’s little to differentiate between providers other than the price they charge.

"Unfortunately, that’s something Vodafone is finding out the hard way, with pricing in Spain being re-assessed as a result of extra competition, and the Indian business on the cusp of being combined with a rival in an effort to front up to new challenges."

However, Mr Salmon says that Vodafone is having some success in Egypt, Turkey and South Africa. And in Europe more customers are buying bundles of services.

Next leads FTSE risers

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The FTSE 100 is up 30.01 points, or 0.39%, at 7,647.71.

Retail chain Next is leading the blue chip risers with its share price up 2.6% at £59.53.

Telecoms group Vodafone is the biggest faller, down 0.98% at 189.13p.

The FTSE 250 is up 123.57 points, or 0.60%, at 20,741.91.