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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Vodafone Group Plc    VOD   GB00BH4HKS39

VODAFONE GROUP PLC

(VOD)
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Delayed Quote. Delayed London Stock Exchange - 01/15 11:35:35 am
127.22 GBX   -1.33%
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Vodafone Idea rebrands in fight for India's telecom market share

09/07/2020 | 04:32am EST
A hotel employee clears a table after Vodafone Group and Idea Cellular news conference in Mumbai

Debt-ridden Vodafone Idea Ltd said on Monday it is rebranding itself, as the company, which has been losing customers, looks to change its image three years after announcing the merger of two of India's biggest telecom service providers.

The company's shares, which rose 10% in morning trade, were up 3.3% at 0750 GMT.

The loss-making telecom carrier on Friday approved fundraising of up to 250 billion rupees at a time it owes roughly 500 billion rupees ($6.81 billion) in dues to the government. The dues, according to an Indian Supreme Court order, will have to be paid over a ten-year period.

Vodafone Idea, a joint venture between Britain's Vodafone Group and India's Idea Cellular, said it will go by the brand name "Vi".

"Vi's focus will be to deliver ... a superior network experience, better customer service and leading products and services," Vodafone Group Chief Executive Officer Nick Read said.

On a media call before the announcement, Vodafone Idea CEO Ravinder Takkar said the company would make its next payment of government dues on March 2022, and was contemplating raising tariffs.

Telecom carriers in the country have already raised some subscription tariffs as they look for ways to pay down government levies.

Vodafone Idea lost 4.7 million customers in May alone, while market leader Reliance Jio added 3.7 million. The Indian unit of Vodafone had gross debt of 1.19 trillion Indian rupees as of June end.

A newspaper report last week said Verizon Communications Inc and Amazon.com Inc may invest more than $4 billion for a stake in Vodafone Idea, but the telecom company said on Thursday its board had no investment proposal to consider from them.

(Reporting by Sanklap Phartiyal in New Delhi, Euan Rocha in Mumbai, Nivedita Bhattacharjee in Bengaluru; Editing by Shounak Dasgupta)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -0.74% 3104.25 Delayed Quote.-4.69%
VODAFONE GROUP PLC -1.33% 127.22 Delayed Quote.5.19%
VODAFONE IDEA LIMITED 10.98% 13.65 Delayed Quote.28.17%
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Financials
Sales 2021 43 416 M 52 425 M 52 425 M
Net income 2021 2 224 M 2 685 M 2 685 M
Net Debt 2021 44 026 M 53 161 M 53 161 M
P/E ratio 2021 20,7x
Yield 2021 6,28%
Capitalization 38 399 M 46 404 M 46 366 M
EV / Sales 2021 1,90x
EV / Sales 2022 1,85x
Nbr of Employees 105 263
Free-Float 92,8%
Chart VODAFONE GROUP PLC
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Vodafone Group Plc Technical Analysis Chart | VOD | GB00BH4HKS39 | MarketScreener
Technical analysis trends VODAFONE GROUP PLC
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 22
Average target price 1,92 €
Last Close Price 1,43 €
Spread / Highest target 83,1%
Spread / Average Target 34,3%
Spread / Lowest Target -30,6%
EPS Revisions
Managers and Directors
NameTitle
Nicholas Jonathan Read Group Chief Executive Officer & Executive Director
Jean-François M. L. van Boxmeer Chairman
Margherita Della Valle Group Chief Financial Officer & Director
Pierre Klotz Finance Director
Johan Wibergh Group Chief Technology Officer
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