Vodafone shares gain on renewed takeover speculation
Invezz
Published Feb 23, 2024 17:09
Updated Feb 23, 2024 17:41
Vodafone shares gain on renewed takeover speculation
Vodafone Group plc (LON: LON:VOD) is gaining at writing following news of renewed takeover interest.
Here’s what we know so far/h2
A potential acquirer may be working with Goldman Sachs (NYSE:GS) on such a deal. But a different source that talked to Betaville on condition of anonymity said it’s Jefferies who has been hired instead.
The news arrives shortly after Vodafone Group reported €11.37 billion in total revenue for its third financial quarter – down some 2.3% versus a year ago.
Last month, the British multinational also announced plans of investing $1.5 billion in cloud and artificial intelligence services developed in collaboration with Microsoft (NASDAQ:MSFT).
Still, Vodafone stock has tanked about 35% in the trailing twelve months.
Watch here: https://www.youtube.com/embed/3ohEiGbyJDE?feature=oembed
Wall Street rates Vodafone stock at ‘overweight’/h2
The update arrives about a week after Betaville said American telecommunication companies may be interested in taking over Vodafone.
But new speculations have since emerged that suggest the potential buyer may be based out of Europe instead. So far, the identity of the acquirer remains unknown.
Earlier in February, Vodafone Group guided for €3.3 billion of free cash flow and €13.3 billion in EBITDAaL on an adjusted basis in FY24.
Wall Street currently has a consensus “overweight” rating on Vodafone stock that pays a dividend yield of a whopping 11.64% at writing.
This article first appeared on Invezz.com
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Written By: Invezz
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