Ticker VOD

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As of 07:44 27 Oct 2020
Market cap. Pound sterling
29,445.32 million
As of 07:44 27 Oct 2020

Latest updates

  1. Vodafone to drop Egypt business and cut down on debt

    vodafone storefront

    Vodafone says its nearing a deal to sell its Egypt business to the Saudi Arabian Telecom Company. By selling its 55% stake in Vodafone Egypt, the FTSE 100 group will make a dent in its large debts.

    Last May, it had €27.0bn of debt at the end of its financial year, down from €29.6bn a year earlier - and still aimed invest in 5G networks.

  2. Huawei: Vodafone committed to using a range of telecom firms


    Vodafone UK says it "will now analyse the potential impact of today’s decision" about Huawei on the non-core elements of its network.

    It says: "Vodafone UK uses a mix of Huawei, Ericsson and Nokia equipment for its 4G and 5G masts, and we continue to believe that the use of a wide range of equipment vendors is the best way to safeguard the delivery of services to all mobile customers."

    What isn't clear, at this stage, is how the government's 35% cap on Huawei equipment being used in the UK's non-core telecoms network will be defined - will limited by geography or by operator, for example?

    Vodafone says:"By working closely with the relevant authorities on any required substitution of equipment and it’s timing, we aim to keep any potential disruption to customers to a minimum."

  3. Vodafone Malta sold

    Vodafone logo

    Vodafone says its is selling its Vodafone Malta operation to Monaco Telecom for a cash consideration equivalent to an enterprise value of €250m (£212m).

    It will continue to use the Vodafone brand for a "transitional period".

  4. Indian court ruling hits Vodafone's results

    Vodafone store

    Mobile giant Vodafone has reported a €1.9bn (£1.6bn) loss in the six months to 30 September after being hit by a Supreme Court ruling in India that could trigger huge fees in the country.

    Vodafone said: "In October the Supreme Court in India ruled against the industry in a dispute over the calculation of licence and other regulatory fees, and Vodafone Idea is now liable for very substantial demands made by the Department of Telecommunications (DoT) in relation to these fees.

    "We are actively engaging with the government to seek financial relief for Vodafone Idea."

    Vodafone said its liability "appears to be at least €3.7bn but could be substantially higher".

    However, the mobile operator said overall revenues in the half-year had edged up, "supported by improvements in South Africa, Spain and Italy, with solid retail performance in Germany and strong commercial acceleration in the UK".

    Reported revenues rose 0.4% to €21.9bn.

    Vodafone also increased its full-year earnings guidance to €14.8-15.0bn from €13.8-14.2bn, partly due to benefits from its Liberty Global acquisitions and the sale of its New Zealand business.