VOD.L - Vodafone Group Plc
| Previous close | 155.00 |
| Open | 155.00 |
| Bid | 155.04 x 0 |
| Ask | 155.06 x 0 |
| Day's range | 154.21 - 155.52 |
| 52-week range | 1.50 - 1,602.00 |
| Volume | 45,286,067 |
| Avg. volume | 70,418,443 |
| Market cap | 41.463B |
| Beta (5Y monthly) | 0.58 |
| PE ratio (TTM) | N/A |
| EPS (TTM) | -28.20 |
| Earnings date | 12 May 2020 |
| Forward dividend & yield | 0.08 (4.89%) |
| Ex-dividend date | 28 Nov 2019 |
| 1y target est | 2.01 |
- Reuters - UK Focus
Ardian-led consortium poised to grab INWIT tower group stake - sources
A consortium led by French private equity group Ardian is the frontrunner to buy a 25% stake in Italy's biggest mobile towers group INWIT, two sources familiar with the matter said on Saturday. Telecom Italia and Vodafone agreed in July to fold their Italian mobile tower assets into TIM's 60%-owned unit INWIT to cut debt and free up cash for the roll-out of next generation 5G telecommunications networks.
- Stockopedia
Should we be worried about Vodafone's Quality Rank?
Good quality companies can offer a lot of comfort to investors. They tend to be strong, stable, profitable firms that deliver predictable returns, have pricing8230;
- Reuters
Exclusive: Vodafone, Telecom Italia offer rivals access to some sites to ease EU concerns – EU paper
Vodafone and Telekom Italia have offered to allow rivals access to sites in some cities for up to nine years, a proposal aimed at allaying EU antitrust concerns over the creation of Italy’s largest mobile tower company, according to an EU document seen by Reuters. The companies announced the deal in July last year which will see Vodafone transfer its Italian mobile masts to INWIT, TIM’s 60%-owned subsidiary. For the telecoms industry, combining towers or sharing networks to reduce debt and share costs are seen as an alternative to counter EU antitrust regulators’ tough line on telecoms mergers that reduce the number of players in a market from four to three.
- Reuters
Exclusive: Vodafone, Telecom Italia offer rivals access to some sites to ease EU concerns - EU paper
Vodafone and Telekom Italia have offered to allow rivals access to sites in some cities for up to nine years, a proposal aimed at allaying EU antitrust concerns over the creation of Italy’s largest mobile tower company, according to an EU document seen by Reuters. The companies announced the deal in July last year which will see Vodafone transfer its Italian mobile masts to INWIT , TIM’s 60%-owned subsidiary. For the telecoms industry, combining towers or sharing networks to reduce debt and share costs are seen as an alternative to counter EU antitrust regulators’ tough line on telecoms mergers that reduce the number of players in a market from four to three.
- Fool.co.uk
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- Reuters
Vodafone and Telecom Italia offer concessions for towers deal
BRUSSELS/MILAN (Reuters) - Vodafone and Telecom Italia (TIM) have offered concessions in an effort to allay EU antitrust concerns over their plan to create Italy's biggest mobile towers company, a filing on the European Commission website showed on Monday. Under the deal announced in July last year, Vodafone will transfer its Italian mobile masts to INWIT , which is 60% owned by TIM. With EU antitrust regulators taking a tough line on telecoms mergers that reduce the number of players in a market from four to three, the sector is hoping that deals where operators combine towers or share networks will make it easier for them to reduce debt and share costs.
- Reuters - UK Focus
Vodafone, TIM offer concessions on tower deal to EU regulators
Vodafone and Telecom Italia have offered concessions to address EU antitrust concerns about their plan to merge their mobile tower infrastructure, a filing on the European Commission website showed on Monday. Reuters reported on Feb. 13 about the Commission's demand for concessions.
- Bloomberg
Huawei Scare Pushes Carriers to Tackle Dominance of 5G Suppliers
(Bloomberg) -- With the U.S. campaign against Huawei Technologies Co. threatening to disrupt the rollout of 5G wireless networks, phone carriers are joining forces to develop technology that can reduce their reliance on a handful of powerful equipment suppliers.The Chinese company dominates the European market for telecommunications gear, ahead of Ericsson AB of Sweden and Finland’s Nokia Oyj. Governments are weighing whether to follow the U.K. and limit Huawei’s share of 5G networks over concerns -- denied by the company -- that it represents a security risk.If they do, it could knock the progress of 5G off course: The big three have designed a lot of their wireless gear so it can’t easily be integrated in the same network, much like an electric toothbrush only works with its own brush heads. So building 5G with Nokia or Ericsson kit on top of Huawei 4G infrastructure is fraught with complexity and costs.Companies including Deutsche Telekom AG and Vodafone Group Plc have decided to combine separate projects to develop a more standardized, flexible network architecture that would make it easier for carriers to use products from multiple vendors, according to people familiar with the matter.Under the plans, the O-RAN industry alliance, backed by Deutsche Telekom and AT&T Inc. among others, will align its work with the Telecom Infra Project, which was started by Facebook Inc. and is supported by several phone companies, said the people, who asked not to be named as the plans aren’t yet public.The industry is pursuing the efforts with greater urgency partly because they’re alarmed by the prospect of restrictions on Huawei in more markets such as Germany, one of the people said. The U.K.’s decision to limit Huawei’s share of broadband infrastructure already led BT Group Plc to predict a 500 million-pound ($650 million) hit to its finances.The carriers were planning to announce the O-RAN/TIP initiative at the wireless industry’s biggest annual showcase in Barcelona next week, before it was canceled due to the coronavirus outbreak, the people said. An announcement could instead come as early as this week.O-RAN’s goal from the start has been to “invite in more players with new ideas to help make the network stronger and more secure,” said Deutsche Telekom spokeswoman Pia Habel. She declined further comment.A spokeswoman for TIP declined to comment. A representative for O-RAN could not immediately be reached for comment.Negotiating PowerEnsuring that antennas, switches and other gear from competing suppliers can communicate seamlessly may also make it harder for any vendor -- Ericsson and Nokia included -- to clinch contracts just because the customer already uses its equipment. That could strengthen the negotiating position of carriers in contracts for 5G networks that are set to cost the industry hundreds of billions of dollars.AT&T has said it wants to replace the proprietary software that Nokia, Ericsson and Huawei use to run their wireless network gear with an open software.Vodafone has begun issuing small contracts for OpenRAN, an initiative backed by TIP to standardize radio access network hardware and software. CEO Nick Read said in October that Vodafone was “ready to fast track it into Europe as we seek to actively expand our vendor ecosystem.”O-RAN began in 2018 as a lobbying and research effort to make the radio access network -- the largest part of a wireless system -- more transparent and inter-operable. TIP is a broader project involving hundreds of companies working across all elements of networks.O-RAN and TIP may already be changing the economics of the industry and giving newer players more room. It’s now possible to design a “virtual” wireless network, which uses standardized, open-source software in conjunction with hardware from different vendors.Rakuten Inc. is using such technology to roll out a virtual network in Japan. U.S. satellite broadcaster Dish Network Corp., a member of the O-RAN alliance, aims to build a 5G network along similar lines.Ericsson and Nokia, reluctant to pick a fight with their biggest customers, have publicly welcomed O-RAN and TIP. Ericsson has joined O-RAN, while Nokia supports TIP and has been helping Rakuten build the Japanese network.Nokia Chief Executive Officer Rajeev Suri said in April last year it’s “better to be involved than not,” although he didn’t expect the model to be replicated in other parts of the world.\--With assistance from Thomas Seal, Angelina Rascouet, Niclas Rolander and Scott Moritz.To contact the reporters on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net;Rodrigo Orihuela in Madrid at rorihuela@bloomberg.net;Natalia Drozdiak in Brussels at ndrozdiak1@bloomberg.netTo contact the editors responsible for this story: Thomas Pfeiffer at tpfeiffer3@bloomberg.net, Jennifer RyanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
India's Vodafone Idea to pay 35 billion rupees in telecom dues this week
Beleaguered Indian wireless carrier Vodafone Idea will pay 35 billion rupees (376.99 million pounds) in telecom dues to the federal government by the end of this week, the company said on Monday. Hopes that Vodafone Idea could outlive the financial squeeze due to the outstanding dues payments helped its shares gain as much as 23.5%, their best intraday gain since Jan. 21, after dropping more than 24% on Friday. "While there is a concern that Vodafone is against the wall, there is a slim hope that they will get through," said Siddhartha Khemka, head of research at Motilal Oswal Financial Services in Mumbai.
- Reuters
India's Vodafone Idea to pay 35 billion rupees in telecom dues this week, shares rise
Beleaguered Indian wireless carrier Vodafone Idea will pay 35 billion rupees ($490 million) in telecoms dues to the federal government by Feb. 21, a lawyer for the company said on Monday. Hopes that Vodafone Idea could outlive the financial squeeze due to the outstanding dues payments helped its shares gain as much as 23.5% on Monday, their best intraday gain since Jan 21, after dropping more than 24% percent on Friday. "While there is a concern that Vodafone is against the wall, there is a slim hope that they will get through," said Siddhartha Khemka, head of research at Motilal Oswal Financial Services in Mumbai.
- Reuters
Vodafone assesses payment to India in dispute over dues
Vodafone Idea Ltd said on Saturday it was assessing how much it would pay the Indian government as part of dues owed and said it proposed making a payment in the next few days. India ordered mobile carriers on Friday to immediately pay billions of dollars in dues after the Supreme Court threatened the companies and officials with contempt proceedings for failing to implement an earlier ruling. The move threatens the survival of Vodafone Idea, a joint venture between Britain's Vodafone Group Plc and India's Idea Cellular, as the unit is saddled with about $3.9 billion in overdue payments.
- Reuters - UK Focus
Vodafone says assessing payment to India in dispute over dues
Vodafone Idea Ltd said on Saturday it was assessing how much it would pay the Indian government as part of dues owed and said it proposed making a payment in the next few days. The Indian government ordered mobile carriers on Friday to immediately pay billions of dollars in dues after the Supreme Court threatened the companies and officials with contempt proceedings for failing to implement an earlier ruling. Vodafone did not give details of the amount it was likely to pay.
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- Fool.co.uk
How saving £3 per day could double your State Pension
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- Reuters - UK Focus
Coronavirus empties exhibition halls, but over time the show will go on
When Victoria Beckham sends her models down the London catwalk on Sunday, many of her most important clients will not be sitting in the front row but following from afar as the coronavirus outbreak hobbles international events. The drive by London Fashion Week to communicate with absent Chinese buyers is just one of the ways the global events industry is adapting, quickly, to keep the show on the road. Caroline Rush, head of the British Fashion Council, said it wanted to keep dialogue open and buyers engaged.
- Reuters - UK Focus
BUZZ-Vodafone's India unit tanks after court snub
- Bloomberg
Vodafone Idea Faces Collapse After Court Ruling on Liabilities
(Bloomberg) -- India’s top court rejected a plea by mobile carriers seeking more time to settle billions of dollars in back-fees, threatening to push Vodafone Group Plc’s beleaguered local venture to the brink weeks after it warned of a potential collapse.The Supreme Court’s three-judge panel, headed by Arun Mishra, said Friday that operators including Vodafone Idea Ltd. and Bharti Airtel Ltd. -- owing a total of $13 billion in dues for spectrum and licenses -- must deposit the dues by March 17. Shares of Vodafone Idea plunged.In its October verdict, the top court upheld the way the government calculated fees using a formula disputed by the companies, and in January, it rejected their petition to reconsider the order. On Friday, the court also initiated contempt proceedings against the firms for failing to comply with its order to pay the dues by Jan. 24.The stunning setback now leaves few options for Vodafone Idea, which needs to pay $4 billion, the highest among its peers, even as it struggles to stem record losses and rein in net debt that has ballooned to $14 billion. Highlighting its dire finances, Chairman Kumar Mangalam Birla said in December that the firm may be headed toward insolvency in the absence of any relief.No SenseWith U.K.-based Vodafone having signaled it isn’t likely to plow any more money into the venture in which it holds 45%, it falls on the Indian partner and billionaire Birla to chart a future course for the teetering operator. “It doesn’t make sense to put good money after bad,” Birla said Dec. 6.“There’s zero hope for Vodafone idea,” said Neerav Dalal, an analyst at Kim Eng Securities Pvt. in Mumbai. “Some relaxation by the Supreme Court would’ve got them some breathing space. They’re definitely not in a position to pay.”A spokesman for Vodafone Idea in Mumbai offered no immediate comments after the verdict.Modi’s ChallengeA collapse of a top wireless operator and the accompanying job losses would be another embarrassment for Prime Minister Narendra Modi, who rode to power promising employment opportunities for the country’s youth. On Modi’s watch, Jet Airways India Ltd. grounded its planes last year after buckling under debt. The airline, once the nation’s largest, is now facing bankruptcy.Vodafone Idea’s woes highlight the struggle Indian telecommunications companies have faced in a market plagued by high spectrum and license fees, frequent policy flip-flops and endless tax demands.As more than a dozen operators jostled for a slice of the world’s second-biggest market by subscribers, frequent price wars weighed on the earnings of companies that were spending billions of dollars on their networks.Jio StormIn 2016, the entry of billionaire Mukesh Ambani’s Reliance Jio Infocomm Ltd. pushed others to the edge. Jio’s free calls and cheap data forced two into bankruptcy, prompted some -- like Vodafone’s India unit and Idea -- to merge and many to pack up. Two non-state carriers -- Bharti Airtel and Vodafone Idea -- survived the war, while Jio came out on top.Vodafone Idea has been losing millions of subscribers to Jio, which racked up more than 370 million users in about three years.Even if Birla decides to revive Vodafone Idea, getting the capital to claw back those lost users will be a hurdle.“The challenge is where will the money come from to survive and expand,” Kim Eng’s Dalal said before Friday’s ruling. “They’ve got to think something out of the box to come out of this.”Shares of Vodafone Idea sank as much as 19% on Friday in Mumbai, extending their losses in the past year to 81%.Catch-22The dispute between the government and the operators over the calculation of fees has meandered through India’s legal system for years. The court decided to reject the pleas for extra time despite the Modi administration’s willingness to negotiate the terms of payment in the wake of Birla’s warning.Stripping out interest from the dues or a staggered payment are some ideas the government can discuss, an official with knowledge of the matter said last month, asking not to be identified citing rules.“It is a Catch-22 situation,” said Arun Kejriwal, director at KRIS, a Mumbai-based investment advisory firm. “The government can neither upset the Supreme Court nor allow Vodafone Idea to collapse.”Facing a $3 billion bill itself, Bharti Airtel sold shares and convertible bonds to help raise the amount last month. Although Bharti Airtel -- which counts Singapore Telecommunications Ltd. among its main investors -- is also weighed down by net debt of about $16 billion, investors are betting on better prospects for recovery in a market left with fewer carriers after the consolidation.Highlighting their confidence, shares of Bharti Airtel rose as much as 4.6% Friday to a record, doubling in value in the past year. A spokesman for the company didn’t comment immediately.To contact the reporters on this story: Upmanyu Trivedi in New Delhi at utrivedi2@bloomberg.net;P R Sanjai in Mumbai at psanjai@bloomberg.net;Ragini Saxena in Mumbai at rsaxena30@bloomberg.netTo contact the editors responsible for this story: Sam Nagarajan at samnagarajan@bloomberg.net, Bhuma ShrivastavaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
India’s Supreme Court Agrees to Hear Vodafone’s Plea Over Payments
(Bloomberg) -- India’s top court rejected a plea by mobile carriers seeking more time to settle billions of dollars in back-fees, threatening to push Vodafone Group Plc’s beleaguered local venture to the brink weeks after it warned of a potential collapse.The Supreme Court’s three-judge panel, headed by Arun Mishra, said Friday that operators including Vodafone Idea Ltd. and Bharti Airtel Ltd. -- owing a total of $13 billion in dues for spectrum and licenses -- must deposit the dues by March 17. Shares of Vodafone Idea plunged.In its October verdict, the top court upheld the way the government calculated fees using a formula disputed by the companies, and in January, it rejected their petition to reconsider the order. On Friday, the court also initiated contempt proceedings against the firms for failing to comply with its order to pay the dues by Jan. 24.The stunning setback now leaves few options for Vodafone Idea, which needs to pay $4 billion, the highest among its peers, even as it struggles to stem record losses and rein in net debt that has ballooned to $14 billion. Highlighting its dire finances, Chairman Kumar Mangalam Birla said in December that the firm may be headed toward insolvency in the absence of any relief.No SenseWith U.K.-based Vodafone having signaled it isn’t likely to plow any more money into the venture in which it holds 45%, it falls on the Indian partner and billionaire Birla to chart a future course for the teetering operator. “It doesn’t make sense to put good money after bad,” Birla said Dec. 6.“There’s zero hope for Vodafone idea,” said Neerav Dalal, an analyst at Kim Eng Securities Pvt. in Mumbai. “Some relaxation by the Supreme Court would’ve got them some breathing space. They’re definitely not in a position to pay.”A spokesman for Vodafone Idea in Mumbai offered no immediate comments after the verdict.Modi’s ChallengeA collapse of a top wireless operator and the accompanying job losses would be another embarrassment for Prime Minister Narendra Modi, who rode to power promising employment opportunities for the country’s youth. On Modi’s watch, Jet Airways India Ltd. grounded its planes last year after buckling under debt. The airline, once the nation’s largest, is now facing bankruptcy.Vodafone Idea’s woes highlight the struggle Indian telecommunications companies have faced in a market plagued by high spectrum and license fees, frequent policy flip-flops and endless tax demands.As more than a dozen operators jostled for a slice of the world’s second-biggest market by subscribers, frequent price wars weighed on the earnings of companies that were spending billions of dollars on their networks.Jio StormIn 2016, the entry of billionaire Mukesh Ambani’s Reliance Jio Infocomm Ltd. pushed others to the edge. Jio’s free calls and cheap data forced two into bankruptcy, prompted some -- like Vodafone’s India unit and Idea -- to merge and many to pack up. Two non-state carriers -- Bharti Airtel and Vodafone Idea -- survived the war, while Jio came out on top.Vodafone Idea has been losing millions of subscribers to Jio, which racked up more than 370 million users in about three years.Even if Birla decides to revive Vodafone Idea, getting the capital to claw back those lost users will be a hurdle.“The challenge is where will the money come from to survive and expand,” Kim Eng’s Dalal said before Friday’s ruling. “They’ve got to think something out of the box to come out of this.”Shares of Vodafone Idea sank as much as 19% on Friday in Mumbai, extending their losses in the past year to 81%.Catch-22The dispute between the government and the operators over the calculation of fees has meandered through India’s legal system for years. The court decided to reject the pleas for extra time despite the Modi administration’s willingness to negotiate the terms of payment in the wake of Birla’s warning.Stripping out interest from the dues or a staggered payment are some ideas the government can discuss, an official with knowledge of the matter said last month, asking not to be identified citing rules.“It is a Catch-22 situation,” said Arun Kejriwal, director at KRIS, a Mumbai-based investment advisory firm. “The government can neither upset the Supreme Court nor allow Vodafone Idea to collapse.”Facing a $3 billion bill itself, Bharti Airtel sold shares and convertible bonds to help raise the amount last month. Although Bharti Airtel -- which counts Singapore Telecommunications Ltd. among its main investors -- is also weighed down by net debt of about $16 billion, investors are betting on better prospects for recovery in a market left with fewer carriers after the consolidation.Highlighting their confidence, shares of Bharti Airtel rose as much as 4.6% Friday to a record, doubling in value in the past year. A spokesman for the company didn’t comment immediately.To contact the reporters on this story: Upmanyu Trivedi in New Delhi at utrivedi2@bloomberg.net;P R Sanjai in Mumbai at psanjai@bloomberg.net;Ragini Saxena in Mumbai at rsaxena30@bloomberg.netTo contact the editors responsible for this story: Sam Nagarajan at samnagarajan@bloomberg.net, Bhuma ShrivastavaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
Vodafone Idea at Risk After India Court Rejects Plea
(Bloomberg) -- India’s top court rejected a plea by mobile carriers seeking more time to settle billions of dollars in back-fees and began contempt proceedings against the companies, threatening to push Vodafone Group Plc’s beleaguered local venture to the brink weeks after it warned of a potential collapse.The Supreme Court’s three-judge panel, headed by Arun Mishra, said Friday that operators including Vodafone Idea Ltd. and Bharti Airtel Ltd. -- owing a total of $13 billion in back-fees for spectrum and licenses -- must deposit the dues by March 17. The companies’ shares plunged.In its October verdict, the top court upheld the way the government calculated fees using a formula disputed by the companies, and in January, it rejected their petition to reconsider the order. But it had agreed to hear their plea to extend the schedule from the original due date of Jan. 24.The latest setback now leaves few options for Vodafone Idea, which needs to pay $4 billion, the highest among its peers, even as it struggles to stem record losses and rein in net debt that has ballooned to $14 billion. Highlighting its dire finances, Chairman Kumar Mangalam Birla said in December that the firm may be headed toward insolvency in the absence of any relief.With U.K.-based Vodafone having signaled it isn’t likely to plow any more money into the venture in which it holds 45%, it falls on the Indian partner and billionaire Birla to chart a future course for the teetering operator. “It doesn’t make sense to put good money after bad,” Birla said Dec. 6.A collapse of the nation’s second-biggest wireless operator and the accompanying job losses would be another embarrassment for Prime Minister Narendra Modi, who rode to power promising employment opportunities for the country’s youth. On Modi’s watch, Jet Airways India Ltd. grounded its planes last year after buckling under debt. The airline, once the nation’s largest, is now facing bankruptcy.Vodafone Idea’s woes highlight the struggle Indian telecommunications companies have faced in a market plagued by high spectrum and license fees, frequent policy flip-flops and endless tax demands.As more than a dozen operators jostled for a slice of the world’s second-biggest market by subscribers, frequent price wars weighed on the earnings of companies that were spending billions of dollars on their networks.In 2016, the entry of billionaire Mukesh Ambani’s Reliance Jio Infocomm Ltd. pushed others to the edge. Jio’s free calls and cheap data forced two into bankruptcy, prompted some -- like Vodafone and Idea -- to merge and many to pack up. Two non-state carriers -- Bharti Airtel and Vodafone Idea -- survived the war, while Jio came out on top.Vodafone Idea has been losing millions of subscribers to Jio, which racked up more than 370 million users in about three years.Even if Birla decides to revive Vodafone Idea, getting the capital to claw back those users who left for Jio will be a hurdle.“The challenge is where will the money come from to survive and expand,” said Neerav Dalal, an analyst at Kim Eng Securities Pvt. in Mumbai. “They’ve got to think something out of the box to come out of this.”Shares of Vodafone Idea sank as much as 12% on Friday, extending their losses in the past year to 78%. Bharti’s shares declined as much as 1%.The dispute between the government and the operators over the calculation of fees has meandered through India’s legal system for years. The court decided to reject the pleas for extra time despite the Modi administration’s willingness to negotiate the terms of payment in the wake of Birla’s warning.Stripping out interest from the dues or a staggered payment are some ideas the government can discuss, an official with knowledge of the matter said last month, asking not to be identified citing rules.Facing a bill of $3 billion, Bharti Airtel sold shares and convertible bonds to help raise the amount last month. Although Bharti Airtel -- which counts Singapore Telecommunications Ltd. among its main investors -- is also weighed down by net debt of almost $16 billion, investors are betting on better prospects for recovery in a market left with fewer carriers after the consolidation.(Adds detail throughout)\--With assistance from P R Sanjai.To contact the reporters on this story: Upmanyu Trivedi in New Delhi at utrivedi2@bloomberg.net;Ragini Saxena in Mumbai at rsaxena30@bloomberg.netTo contact the editors responsible for this story: Sam Nagarajan at samnagarajan@bloomberg.net, Jeanette Rodrigues, Bhuma ShrivastavaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Exclusive: Vodafone, TIM concessions needed for tower deal approval - sources
BRUSSELS/MILAN (Reuters) - Vodafone and Telecom Italia will have to offer concessions if they want to win European Union antitrust approval for their plan to merge their mobile tower infrastructure, people familiar with the matter said on Thursday. The telecoms operators announced the deal in July last year under which Vodafone will transfer its Italian mobile masts to INWIT , which is 60 percent owned by TIM. Telecoms companies are looking to such tie-ups to cut debt and share heavy investments.
- Reuters - UK Focus
Missed call? Counting the cost of no-show Mobile World Congress
For an event meant to showcase the power of telecoms, cancelling this year's Mobile World Congress in Barcelona without a back-up plan has perplexed many in the trillion-dollar sector. Wednesday's decision to call off the telecoms industry's biggest annual gathering over fears of coronavirus, which has yet to reach mainland Spain, has left a hole in marketing budgets and dealt a $500 million blow to the local economy. Sony and Nokia said after pulling out of the event that they would hold product launches online instead, while South Korea's Samsung Electronics showcased a new folding phone at separate event in San Francisco last week.
- Reuters
Vodafone's India venture reports sixth straight quarterly loss
Vodafone Idea Ltd reported a third-quarter loss on Thursday, as the troubled Indian telecom company shed millions of mobile subscribers due to intense competition. The quarterly results come as Vodafone Idea and other Indian telecom firms are pressured by government demands to pay $13 billion in overdue levies in a long-contested dispute. Indian telecom carriers have increased prices in response and Vodafone Idea, which owes at least $4 billion in dues, has sought a "modification" of India's top court's October ruling which upheld the government's demand.
- Reuters - UK Focus
Mobile World Congress cancellation "not about money" - host GSMA
The decision to cancel a major telecoms conference in Barcelona slated for later this month after mass withdrawals due to fears over a coronavirus outbreak was motivated only by a desire to protect people's health and safety, organisers said on Thursday. "This is not about money - it's about health and safety and the reputation of our show," Mats Granryd, director general of the GSMA telecoms association that hosts the event told a news conference the day after announcing its cancellation.
