COMMUNICATIONS: VOD Equity Jumped On Betaville Report Of Potential Takeover Interest
Last updated at:Feb-29 14:17By: Niall Madigan
- VOD equity jumped ~5% earlier though are off highs after a Betaville blog post. Credit spreads wider on the day but don’t seem to have responded to the report.
- The report, citing three unnamed sources, indicated potential takeover interest from a European company, possibly from France.
- The company, rumoured to be considering a stock merger, has engaged corporate finance advisory firms for a possible deal, though no formal approach has been confirmed.
- The speculated takeover approach involves a valuation between 100p and 105p per share for Vodafone, significantly higher than its current trading price.
- The disposal of Vodafone's Italian division to Swisscom is speculated to be a distraction from the potential takeover talks.
- Betaville classified the story as “Rare” i.e. market gossip that has been tested with some of its "usually well-informed" sources.