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Vodafone ( (GB:VOD) ) just unveiled an update.
Vodafone Group Plc has completed the sale of its Italian operations to Swisscom AG for €8 billion. This transaction reflects a significant valuation premium, being the highest operational free cash flow multiple achieved by Vodafone in the last decade. The proceeds from this sale will be used to reduce Vodafone’s net debt, with an additional €2 billion potentially returned to shareholders. Vodafone will continue to provide certain services to the Italian operations for up to five years, highlighting a strategic partnership with Swisscom.
More about Vodafone
Vodafone is a leading telecoms company operating in Europe and Africa, providing mobile and fixed services to over 330 million customers across 15 countries. The company is also a major player in financial technology in Africa, serving approximately 83 million customers and managing extensive transactions. Vodafone is committed to leveraging technology to improve lives and promote sustainable societies, with a goal of achieving net zero emissions by 2040.
Average Trading Volume: 78,397,053
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: £17.43B
See more data about VOD stock on TipRanks’ Stock Analysis page.
