Vodafone Plans To Launch Extra Share Purchase-Again Programmes: Report

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UK’s Vodafone Group mentioned on Friday it intends to launch extra share buy-back programmes over the subsequent eight months to partially offset the rise within the firm’s issued share capital resulting from maturing of a convertible bond programme.

The cellular and broadband operator, which has roped in Goldman Sachs as principal of the programme, mentioned the buy-backs will begin on July 26 and finish by Nov. 17.

Vodafone reported a better-than-expected rise in first-quarter service income as extra shops reopened and tourism made a tentative return following final 12 months’s COVID-19 disruption.

The British firm had mentioned in Could free money stream would improve to at the least 5.2 billion euros ($6.12 billion) this 12 months, after it met its goal of “at the least” 5 billion euros within the 12 months to end-March.

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