Vodafone : Divestment of Italy and share buybacks
>Not the best offer but a direct divestment - Vodafone announced the sale of its business in Italy for an EV of € 8bn, or a multiple of 6.0x EBITDA FY 2024 which Vodafone recalculates at 7.8x with adjustments (Vodafone factors back in € 176m in costs booked in intra-group costs and € 97m in other costs). The latter multiple is in line with those on M&A deals in the sector and, more importantly, is higher than the disappointing multiple on the sale of Vodafone Spain (5...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.
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.
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