Report
Stephane Beyazian

Vodafone : Cession de l’Italie et rachat d’actions

>Pas la meilleure offre mais une cession directe - Vodafone annonce la vente de son activité en Italie sur une V.E. de 8 Md€, soit un multiple de 6.0x l’EBITDA FY2024 que Vodafone recalcule à 7,8x avec des ajustements (Vodafone réintègre 176 M€ de coûts comptabilisés dans les coûts intra-groupe et 97 M€ d’autres charges). Ce dernier multiple ressort en ligne avec le M&A du secteur et surtout supérieur au multiple décevant de la cession de Vodafone Espagne (5x). ...
Underlying
Vodafone Group Plc

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Stephane Beyazian

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