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

VODAFONE GROUP PLC

(VOD)
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Vodafone Agrees to Proceed With Indian Tower Merger

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09/01/2020 | 04:32am EDT

By Adria Calatayud

Vodafone Group PLC said Tuesday that it has agreed with Bharti Airtel Ltd. and Vodafone Idea Ltd. to proceed with completion of a merger between Indian telecom tower companies Indus Towers Ltd. and Bharti Infratel Ltd.

The U.K. telecommunications group said it will receive 760 million new shares in the combined company in exchange for its 42% stake in Indus Towers. This would be equivalent to 28.2% of the combined company, Vodafone said.

Bharti Airtel's shareholding in Bharti Infratel would be diluted to 36.7% from 53.5%. Bharti Airtel will jointly control the enlarged group with Vodafone, the U.K. company said.

Vodafone said its stake in the combined company would have a value of around 151 billion Indian rupee ($2.05 billion) at the current Bharti Infratel market valuation.

Providence Equity Partners, which owns a 4.85% shareholding in Indus Towers, has also elected to receive shares in the combined company, while Vodafone Idea has elected to sell its 11.15% interest for cash, the U.K. company said.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 


Stocks mentioned in the article
ChangeLast1st jan.
BHARTI AIRTEL LIMITED -0.14% 450.8 End-of-day quote.-1.10%
BHARTI INFRATEL LIMITED -1.07% 184.15 Delayed Quote.-26.28%
VODAFONE GROUP PLC 0.43% 103.5 Delayed Quote.-29.48%
VODAFONE IDEA LIMITED -4.02% 8.35 Delayed Quote.41.46%
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Financials
Sales 2021 43 448 M 50 736 M 50 736 M
Net income 2021 1 919 M 2 241 M 2 241 M
Net Debt 2021 43 922 M 51 289 M 51 289 M
P/E ratio 2021 18,3x
Yield 2021 7,86%
Capitalization 30 753 M 35 840 M 35 912 M
EV / Sales 2021 1,72x
EV / Sales 2022 1,66x
Nbr of Employees 104 000
Free-Float 92,7%
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Technical analysis trends VODAFONE GROUP PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 1,90 €
Last Close Price 1,15 €
Spread / Highest target 121%
Spread / Average Target 65,7%
Spread / Lowest Target -10,9%
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Managers
NameTitle
Nicholas Jonathan Read Group Chief Executive Officer & Executive Director
Gerard Johannes Kleisterlee Chairman
Margherita Della Valle Group Chief Financial Officer & Director
Pierre Klotz Finance Director
Johan Wibergh Group Chief Technology Officer
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