Vodafone shares hit by fear of pressure to fund US bid
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VODAFONE shares fell nearly 3 per cent yesterday on fears that the mobile phone group could come under pressure from its US partner to provide $25 billion (Â£13 billion) to help to finance a bid for Sprint.
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London equities  ticked lower on Thursday, with losses foe Vodafone on growing expectations that it will noit secure rights to distribute Apple&#39;s new iPhone.
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Business & money: Â· Auction poses threat to established networksÂ· Ofcom wants spectrum from Vodafone and O2
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Business & money: Insurer Resolution is under pressure to seek talks on a Â£35bn bid from rival Pearl Group.
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The misinformation and confusion over whether or not the US mobile phone company Verizon Wireless, part owned by Vodafone, is going to muscle in on the $35bn (Â£18bn) merger of rivals Sprint and Nextel continued yesterday with hedge funds playing both
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US SHARES fell on Friday, pressured by declines in the drugs and semiconductor sectors and by slower-than-expected US jobs growth.
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A group of shareholders on Thursday suggested that Vodafone give its investors tracking shares representing the companyâs 45 percent stake in Verizon Wireless.
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The pound came under renewed selling pressure to move under 1.79 US dollars briefly.
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Bid speculation kept London shares afloat on Monday, on hopes of further consolidation in the mining sector as Anglo American came under the spotlight.
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European stocks are under pressure on fears that central banks will not follow the US in slashing interest rates.
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By Ravi Chandiramani  Vodafone has put its UK PA account - one of the most prestigious commercial lobbying contracts - up for grabs.
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European and US shares fall sharply as poor economic and corporate news adds to fears of a US recession.
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LONDON (CBS.MW) -- Mobile phone network leader Vodafone Group on Tuesday cheered the market by more than doubling its interim dividend and increasing its share buyback plan by 1 billion pounds ($1.
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Problems in the bond markets put pressure on financial firms' shares.
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Despite pressure from a shareholder group, Vodafone says it's 45 percent stake in Verizon Wireless is too profitable to get rid of.
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InfoWorld - Vodafone Group and the Essar Group could&#160;lock horns&#160;over the Indian company&#39;s demand to share management of Hutchison Essar, a large Indian mobile phone network operator.
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(InfoWorld) - Vodafone Group intends to keep its stake in Verizon Wireless, despite a proposal submitted by a large shareholder recommending a change in the holding. The issue of Vodafone's 45 percent stake in Verizon Wireless comes up during virtually every earnings report from Vodafone. Vodafone typically argues that while it keeps an eye on the investment and probably won't hold on to it forever, growth at Verizon continues, so the investment is sound for now. On Thursday, Vodafone said that Efficient Capital Structures, a group that controls 210,000 shares of the company, submitted several resolutions, including one suggesting that Vodafone either spin off or issue tracking shares of its Verizon Wireless interest. Vodafone is required to submit the resolutions for vote during its annual shareholders meeting July 24. Vodafone said that its share in Verizon has generated significant value and that a change in the structure of that investment would lose some of that value. A tracking share would probably trade low because of limited transparency, Vodafone said. A spinoff would also likely lead to lowered value because of difficulties in tax structures and because the board doesn't think the United Kingdom is the natural place to list such shares. Another resolution from ECS seeks to put a cap of Â£1 billion ($2 billion) on any acquisition or a maximum of Â£5 billion in aggregate acquisitions in any two-year period before 2010 unless the deal gets shareholder approval. Vodafone argues that such a rule would prevent it from competing for assets and would have precluded the company from making some historical buys, such as acquisitions in Romania, Turkey, and India. The proposals from ECS add to pressure mounting on Vodafone CEO Arun Sarin. Last year, around 10 percent of shareholders voted against his re-election to the board. The vote came a few months after Vodafone revealed a Â£14 billion loss for the year ending in March 2006, marking a record loss for a U.K. company.