Vodafone shares fall after European revenues hit by price pressures Vodafone Shares in Vodafone today fell almost two per cent after the telecoms firm said its European revenues dropped over the previous year as price pressures have hit its business. Analysts warned the slide in Vodafone’s revenues comes as company chief executive Margherita Della Valle’s first test as head of the telecoms company after she took [...]
Vodafone sells off Hungary business for hefty price tag amid major overhaul Vodafone Mobile phone giant Vodafone has finalised a deal to sell its Hungarian business for £1.5 billion amid an ongoing overhaul. The group, which first announced the plans in August, confirmed a binding agreement to sell Vodafone Hungary to local technology company 4iG and the Hungarian state for 660 billion Hungarian forints (£1.5 billion), with the [...]
Vodafone CEO frontrunner critical of telecoms sector TELECOM TROUBLE Vodafone’s former non-executive director and ex-EE chief has publicly criticised the bureaucracy of European telecoms. Olaf Swantee, a Dutch businessman and key figure in the continent’s telecom sector has stated that the sector’s biggest companies are too complex and centralised. He stated that the sector needs to listen to customers. Swantee is rumoured to be [...]
Laws, funds and CEOs: UK tech to see big changes in 2023 December 22, 2022 In 2023, London’s tech sector will see some big changes. From change in Vodafone leadership to the Online Safety Bill, here is a look ahead to the five big City stories to watch out for. Online Safety Bill As part of a move to a safer internet, the UK government is pressing for a comprehensive [...]
Small businesses suffer with rising costs, Vodafone steps in to help December 22, 2022 Telecom giant Vodafone has announced a free broadband scheme to support UK based small business. Vodafone has said that it will give a year’s free broadband to small businesses signing up for a 24-month contract. This is accounting for the rising costs of living, inflation and impact on small businesses. 10per cent of UK small [...]
Liberty Global’s Andrea Salvato may be new Vodafone Chief December 19, 2022 Andrea Salvato is a contender for the top job at Vodafone according to latest reports from London’s telecom sources. Nick Read, Vodafone’s current CEO will step down at the end of the year after a financially turbulent quarter for the telecommunication giant. Beginning of December, the company had seen a 44 per cent decline in [...]
Vodafone transfers shares in Egypt arm as it simplifies core business December 13, 2022 Vodafone transferred over half of its shareholding in its Egypt business to Vodacom, its African subsidiary, as it simplifies the core business. Under the agreement, the telecoms giant has been issued with 242 million shares in Vodacom and received cash proceeds of €577m in exchange for its 55 per cent shareholding in Vodafone Egypt. Acting [...]
Vodafone has grown ‘too fat’ warns French activist investor December 11, 2022 The French activist investor keeping Vodafone’s board on its toes said this weekend that the telecoms giant had become “too fat, too slow (and) too complex.” Xavier Niel, who holds a significant chunk of the firm’s shares, told the Sunday Times the giant needed to sell infrastructure and “smaller non-core assets in order to regain [...]
UAE telcos Emirates ups stake in Vodafone December 7, 2022 United Arab Emirates-based Emirates Telecommunications upped its stake in Vodafone to 11 per cent this morning, but dismissed that it would make any grand swoop for the British telecoms firm. Vodafone’s biggest shareholder, once known as Etisalat Group, upped its stake by one per cent, stating that the rationale for investment was “unchanged” from the [...]
Vodafone group CEO Nick Read to step down within weeks December 5, 2022 Vodafone chief Nick Read will exit the company at the end of December as its share price continues to plunge and investors are left increasingly disgruntled. After four years at the top spot, Read steered Vodafone through the pandemic, narrowing the company’s focus on Europe and Africa, and cutting costs. Nonetheless, telecom expert at CCS [...]