Vodafone could be ripe for shake-up by activist investor Elliott Management
Elliott has taken a stake in Vodafone as it battles intense competition in Europe and is taking over Liberty Global’s German and eastern European businesses
London — A weak share price, a fragile dividend and a switch of CEOs: conditions at Vodafone Group may be ripe for a shake-up by US activist investor Elliott Management. A report that Elliott has taken a stake in the world’s second-largest wireless carrier comes at a critical time for Vodafone, which is battling intense competition in Europe and trying to rescue its share price from an eight-year low. Outgoing CEO Vittorio Colao spent the past decade shifting Vodafone from a predominantly mobile carrier with sprawling global investments to one that is more focused on Europe and also offers bundled internet services. This has required investing in fibre networks and has put pressure on the company’s ability to return cash to shareholders. Keeping those shareholders on side is a top priority for Nick Read, who succeeds Colao in October, and who is charged with seeing through a $22bn take-over of Liberty Global’s German and eastern European businesses. Representatives for Vodafone, the...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.