When Vodafone named Margherita Della Valle as CEO last month, investors adopted a wait-and-see approach to whether the company veteran was the right person to jolt it out of a deep malaise.
Within weeks, Della Valle gave them a stark assessment of the problems Vodafone faces. The reaction has been brutal, with the company's shares sliding to 20-year lows.
"They're fighting too many battles on too many fronts, with still too much debt on the balance sheet," said investment director Russ Mould at AJ Bell, adding that the share price is reflecting concern around the dividend. Vodafone's shares are trading at lows last seen in 2002, largely due to a cut to free cash flow forecasts.
Della Valle said deals were a priority, but would not give any timing, and defended the structure of Vodafone, which has three major shareholders which could benefit from a break-up.Talks to merge its British business with the UK arm of Hutchison, which it confirmed in October, are ongoing. The rationale for owning assets around the world actually makes more sense now, when enterprise clients want joined up services in areas such as Internet of Things, the banker added.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Analysis | Away from the G-7, non-Western powers seek peace in UkraineAnalysis: While the United States and other Western countries vowed to arm Ukraine to the hilt, countries elsewhere pushed for a cessation in hostilities and a negotiated peace.
Les mer »
USD Index Price Analysis: Extra gains target the 200-day SMAThe solid weekly performance of DXY seems to have encountered a firm obstacle around multi-week highs near 103.60 so far on Friday. Further upside see
Les mer »
EUR/USD Price Analysis: Initial support turns up near 1.0760EUR/USD rebounds from new 2-month lows in the 1.0760/55 band and manages to briefly surpass the 1.0800 hurdle at the end of the week. While initially
Les mer »
University of Texas: Secondary analysis after spring footballTexas' secondary made some needed strides last season. And while the Longhorns lost some veterans, this unit might be even deeper than it was in 2022.
Les mer »
Designing a Pipeline for Ethereum DeFi Token Analysis | HackerNoonThis article will share architectural schemes for building a system that collects data from Ethereum blockchain and runs a real-time analysis of Defi token data - crypto onchaindata
Les mer »
Bitcoin, Ethereum Technical Analysis: BTC Remains Below $27,000, Ahead of Powell Speech – Market Updates Bitcoin NewsBitcoin once again fell below the $27,000 level on Friday, ahead of a panel discussion which includes Fed Chair Jerome Powell.
Les mer »