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Telecommunications company Vodafone reports annual profits rise by 1.9 per cent

The Canadian PressMay 21, 2013 10:48
LONDON - U.K.-based mobile telecoms company Vodafone has reported a 1.9 increase in annual profits despite a slowdown in much of its European operations. It reported Tuesday net profits of 7.70 billion pounds ($11.665 billion) for the year ending March 2013 compared with 7.55 billion pounds the year before. Group Chief Executive Vittorio Colao said progress in emerging markets and a strong performance from U.S.-based Verizon Wireless, in which it has a 45 per cent stake, allowed the company to grow despite weak economic conditions in southern Europe.

Vodafone says comfortable with Verizon Wireless status quo

May 21, 2013 08:32
LONDON (Reuters) - Vodafone said on Tuesday that it was very comfortable with its successful U.S. joint venture Verizon Wireless, but if an offer materialized that would benefit it more than the status quo, it would consider it. Vodafone's partner Verizon Communications has made little secret of its desire to buy out Vodafone in a multi-billion dollar deal that would be one of the largest of all time.

Vodafone says annual profit slumps on eurozone woes

Agence France-PresseMay 21, 2013 04:15
British mobile phone giant Vodafone said Tuesday that annual net profits tumbled 90 percent after taking a vast impairment charge relating to its businesses in debt-laden eurozone nations Italy and Spain. Earnings after taxation nosedived to £673 million ($1.03 billion, 796 million euros) in the group's financial year to the end of March, compared with £7.0 billion in 2011-2012, Vodafone said in a results statement. Group revenues retreated 4.2 percent to £44.44 billion.

Vodafone investors want bigger bid or full takeover by Verizon

April 26, 2013 20:45
By Sinead Cruise and Chris Vellacott LONDON (Reuters) - Six major Vodafone investors said $100 billion (64.5 billion pounds) was not enough for the British company's stake in its U.S. joint venture with Verizon Communications, and urged the latter to come up with an offer of at least $120 billion.

Vodafone opens higher on report of Verizon's JV buyout plan

April 25, 2013 03:30
LONDON (Reuters) - Shares in Vodafone rose 1.5 percent in early trade on Thursday after two sources said its joint venture partner in the United States, Verizon Communications, was working on a $100 billion bid to take full control of the asset. The two sources familiar with the situation said Verizon had hired advisers to prepare a possible cash and stock bid to buy out Vodafone's 45 percent stake in the highly successful business.

Telefonica competitors ask Spain to intervene in fibre rollout

April 19, 2013 08:15
MADRID (Reuters) - France Telecom and Vodafone have asked Spain's telecoms watchdog to convince Telefonica to enter into negotiations over granting them access to its infrastructure, which they need to roll out fast broadband. France Telecom and Vodafone announced in March they would team up to develop a fibre optic network that would bring superfast internet speeds to six million homes in Spain. But they need agreement from Telefonica to access connections into individual homes.

Vodafone slashes Czech prices to match Telefonica offer

April 12, 2013 11:30
PRAGUE (Reuters) - Vodafone slashed its calling rates in the Czech Republic on Friday, just a day after rival Telefonica Czech Republic cut its prices, in a market long criticised for lack of competition. Vodafone said it was launching unlimited calls and text messages along with 600 megabytes of data for 691 crowns (22.81 pounds) per month. Telefonica offered unlimited call and text messages along with 1 gigabyte of data for 745 crowns on Thursday.

22 bidders join Myanmar mobile telephone battle

April 5, 2013 04:30
Vodafone, China Mobile and an investment fund linked to billionaire George Soros are among 22 bidders vying to enter Myanmar, one of the world's last unexplored mobile telephone frontiers. Foreign giants are lining up in the hope of doing business in the former army-ruled country, where less than 10 percent of the population has access to a telephone -- a figure the government hopes to boost to 80 percent by 2016. "Our telecom sector has been so outdated," said Set Aung, deputy minister of national planning and economic development.

Verizon denies bid with AT

April 3, 2013 04:30
US operator Verizon has denied speculation it was preparing a joint bid with AT&T to buy out British mobile phone giant Vodafone and divide up its assets between them. "As Verizon has said many times, it would be a willing purchaser of the 45 percent stake that Vodafone holds in Verizon Wireless. "It does not, however, currently have any intention to merge with or make an offer for Vodafone, whether alone or in conjunction with others," Verizon said in a statement filed Tuesday with the Securities and Exchange Commission.

Verizon denies bid with AT

April 3, 2013 03:00
US operator Verizon has denied speculation it was preparing a joint bid with AT&T to buy out British mobile phone giant Vodafone and divide up its assets between them. "As Verizon has said many times, it would be a willing purchaser of the 45 percent stake that Vodafone holds in Verizon Wireless. "It does not, however, currently have any intention to merge with or make an offer for Vodafone, whether alone or in conjunction with others," Verizon said in a statement filed Tuesday with the Securities and Exchange Commission.
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