Trending: Vodafone's Spanish Unit Sale Gets Muted Response from Investors
October 31 2023 - 10:07AM
Dow Jones News
1336 GMT - Vodafone Group is among the most mentioned companies
across news items over the past six hours, according to Factiva
data, after the company announced the sale of its Spanish unit for
around 5 billion euros ($5.31 billion), which received a muted
response from investors. Vodafone's sale of its Spanish unit
represents a full exit from a long-time challenging market but it
isn't huge in the overall context for the group, Berenberg analyst
Carl Murdock-Smith wrote in a note. AJ Bell's investment director
Russ Mould said that Vodafone needed to be more imaginative in
reviving its fortunes. He added that the company still needs to
simplify its business, having suffered from being in too many
markets with too little resource. Barclays analysts Maurice Patrick
and Mathieu Robilliard said that the deal raised dividend
questions, noting that the group said it would revisit its capital
allocation policy in May on the back of a sale. Shares are
currently down 1.1% at 75.87 pence. Dow Jones & Co. owns
Factiva. (ian.walker@wsj.com.)
(END) Dow Jones Newswires
October 31, 2023 09:52 ET (13:52 GMT)
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