Vodafone Announces Deal to Sell Vodafone New Zealand; Shares Undervalued
On May 13, Vodafone announced it agreed to sell Vodafone New Zealand to Infratil and Brookfield Asset Management for an enterprise value of NZ $3.4 billion (EUR 2.1 billion, $2.2 billion). Vodafone previously attempted to merge its New Zealand business with Sky New Zealand and, more recently, with TPG. However, both deals were struck down by regulators. With Vodafone's efforts to grow in New Zealand thwarted by regulators, it chose to exit the market and will use the cash to reduce debt. The dea...Vodafone Group provides mobile and fixed telecommunication services including: access charges, voice and video calls, messaging, interconnect fees, fixed and mobile broadband and related services such as providing televisual and music content, connection fees and equipment sales. Co. provides a range of consumer products and services including mobile, fixed voice, broadband and television, financial as well as other services to operators outside its footprint. Co. also provides a range of enterprise products and services including total communications such as mobile, fixed and a suite of converged communications services, internet of things, cloud and hosting and carrier services.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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