Vodafone boss Sarin confident of defeating shareholder revolt
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Beleaguered Vodafone chief executive Arun Sarin has said that he had enough support to defeat a shareholder revolt to remove him from heading the British mobile phone giant.
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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.
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Vodafone Group Plc, the world&#39;s largest mobile-phone operator, expects cost cuts and bulk-order savings to boost earnings by more than a third before 2008, as the company reins in spending from Germany to Albania.
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Vodafone is to kick-start a global push into 3G with an array of mobile phones that is likely to outstrip the range of handsets being sold by many of its rivals.
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Arun Sarin, the chief executive of Vodafone, moved to grab more day-to-day control of the world&#39;s biggest mobile phone company yesterday by announcing a management shake-up which
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Talking telephone numbers Vodafone has denied rumours that it is considering a leveraged buyout of US giant Verizon.â¦
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LONDON - Vodafone Group plans to hand Â£6 billion ($16 billion) back to shareholders this year after doubling half-year and full-year dividends and boosting a multibillion-pound share buyback programme.
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Vodafone looks to have won the battle for control of Hutchison Essar, India's fourth largest mobile operator, according to people familiar with the matter.
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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.
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Cell phone giant Vodafone Group sought on Wednesday to restore faith in its phones as it unveiled plans for 10 new third-generation (3G) handsets for Christmas to help shore up its struggling Japanese unit.
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NEW YORK, December 15  - The worldâs leading mobile-phone operator, Vodafone Group Plc, denied yesterday that it had approved a bid by its partner, Verizon Communications Inc, for Sprint (FON.
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Vodafone Group Plc plans to hand 6.0 billion pounds (&#36;11.12 billion) back to shareholders this year after doubling half-year and full-year dividends and boosting a multi-billion pound share buy-back program.
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Vodafone Group Plc  has  won the battle for a controlling stake in Hutchison Essar,  India's No. 4 mobile operator, with a bid that values it at  around $19 billion including debt, a source and India's Essar  group said on Sunday.
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Vodafone Group Plc  has  won the battle for a controlling stake in India's No.4 mobile  operator Hutchison Essar with a bid that values it at around  $19 billion including debt, a source and India's Essar group  said on Sunday.
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VODAFONE has revealed it will hike its dividend payment when it reports half-year results in November, while chief executive Arun Sarin insisted he was keen to make further global acquisitions.
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A small, rebel shareholder sought to  step up the pressure on Vodafone Group Plc  on Tuesday,  saying the British mobile phone company had no clear strategy  for its stake in U.S. joint venture Verizon Wireless.
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Singapore Telecommunications Ltd. , Southeast Asia's largest phone firm, said on Thursday it was unsure if Vodafone plc's  stake in India's Bharti  was up for sale and that it was premature to comment on possible talks. "It is our objective to increase our stakes in existing associates at the right terms and conditions, and Bharti is certainly one associate we are interested to increase our shareholding in," Chief Financial Officer Chua Sock Koong told a media briefing.