Vodafone Group PLC - Newbury, England-based telecommunications provider - Starts new share buyback worth up to €500 million. It is part of an overall €2 billion share buyback programme to return some of the proceeds from Vodafone’s sale of its business in Spain to Zegona Communications PLC for €5 billion back in May.
The €500 million first tranche of the 12-month programme started on May 15. A second tranche of €500 million started on August 7 and was increased to €520 million on Tuesday this week. The new buyback starts on Thursday and will be completed by February 3. It will be run by Citigroup Global Markets Ltd, while the second tranche was run by Goldman Sachs International.
Vodafone on Tuesday said pretax profit for the six months that ended September 30 was €2.11 billion, more than doubling from a restated €830 million a year before. Results for the first half of 2023 were restated to account for the sale of Vodafone Spain and Vodafone Italy.
Current stock price: 68.99 pence for market capitalisation of £18.08 billion
12-month change: down 5.7%
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