Vodafone Will Get Some Breathing Room From Emirates Telecom's Stake Purchase

0650 GMT - Emirates Telecommunications Group's acquisition of a 9.8% stake in Vodafone Group is unlikely to advance the latter's core priority of delivering market repair nor develop into a full takeover situation, Jefferies says. However, the telecom company's investment may embolden Vodafone to reset its expectations, or give it the ability to take its time delivering change, and its management expectations will likely be cleared up in its full-year results Tuesday, Jefferies analysts say in a research note. Emirates' investment will likely counteract activist influence in Vodafone's shareholder base, and should it build its stake Emirates will inject downside protection in Vodafone's shares, the bank says. Jefferies retains its hold rating and 125.0 pence price target. Vodafone shares closed Friday at 117.82 pence. (joseph.hoppe@wsj.com) 


 
Companies News:

Emirates Telecommunications Buys $4 Bln Stake in Vodafone

Emirates Telecommunications Group Co. said Monday it has purchased a 9.8% stake in Vodafone Group PLC, worth around 3.26 billion pounds ($4.0 billion).

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Greggs Backs Outlook as Year-to-Date Sales Rise 27%

Greggs PLC said Monday that its expectations for 2022 remain unchanged, after its like-for-like sales grew 27% in the first 19 weeks of the year.

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Baring Private Equity Asia Fund Doesn't Plan to Make Offer for RWS Holdings

Baring Private Equity Asia Fund VIII Ltd. said Monday that it doesn't plan to make an offer for language and intellectual-property support-services provider RWS Holdings PLC.

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Stelrad YTD Performance Topped Management Views

Stelrad Group PLC said Monday that its year-to-date performance was slightly above management's expectations, and that its outlook for the year remained unchanged.

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Experian to Acquire 51% Stake in Brazilian Fintech MOVA for $7.9 Mln

Experian PLC said Monday that it has agreed to acquire a 51% stake in Brazilian fintech company MOVA Sociedade de Empréstimo entre Pessoas S.A. for a cash consideration of 40 million Brazilian reais ($7.9 million).

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Ryanair Expects to Return to Profitability in FY 2023

Ryanair Holdings PLC said Monday that it expects to return to profitability in fiscal 2023 as it reported a consensus-beating narrowed net loss for fiscal 2022 on higher revenue, but cautioned that the recovery remains fragile.

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Plus500 Expects 2022 Revenue, Ebitda to Beat Market Views

Plus500 Ltd. said on Monday that it expects revenue and earnings before interest, taxes, depreciation and amortization for 2022 to be significantly above current market expectations, driven by positive market conditions.

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Home REIT Targets GBP150 Mln in Share Placing to Invest in Housing Homeless

Home REIT PLC said Monday that it will hold a share placing to raise around 150 million pounds ($184.0 million), and that the funds will be used to further invest in accommodation for homeless people in the U.K.

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Sutton Harbour Says Performance Continues to Make a Strong Recovery

Sutton Harbour Group PLC said Monday that its performance has continued to make a strong recovery, and that the value of its portfolio excluding development sites has risen.

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Greencoat UK Wind to Buy 12.5% Stake in Hornsea 1 Offshore Wind Farm for GBP400 Mln

Greencoat UK Wind PLC said Monday that it has agreed to acquire a 12.5% stake in Hornsea 1, the world's largest offshore wind farm, from Global Infrastructure Partners for 400 million pounds ($490.6 million).

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B90 Raises GBP731,000 in Share Subscription; Names Current Chairman as Executive

B90 Holdings PLC said Monday that it has raised 731,000 pounds ($896,498) in a share subscription, and named current Nonexecutive Chairman Karim Peer as executive chairman with immediate effect.

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Nostra Terra Says Fouke 2 Oil Well Production Is Higher Than Expected

Nostra Terra Oil & Gas Co. said Monday that its 32.5%-owned Fouke 2 well in Texas has been brought to production, and flow rates are greatly exceeding internal expectations. 


 
Market Talk:

Ryanair Looks Well Positioned to Gain Market Share on Strong Fuel Hedging

0659 GMT - Ryanair is well positioned to gain market share due to its strong fuel hedging position in comparison with its peers and the delivery of 55 new Boeing aircraft--referred to as "gamechangers"--in the second half of 2022, Sathish B. Sivakumar, analyst at Citi, says in a note. The budget airline has said its fuel requirements are 80% hedged and expects the remaining 20% to give rise to some unbudgeted cost increases. The company's projection for higher-than-expected costs in fiscal 2023 has prompted a reduction in estimates by the U.S. bank. Citi now expects underlying net income for the year at EUR1.34 billion, down from EUR1.5 billion previously. Citi has a buy rating on the stock and lowers its target price to EUR18 from EUR20. (anthony.orunagoriainoff@dowjones.com)


Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

05-16-22 0319ET