Vodafone Hopes Sale Of Spanish Unit Will Ring In Turnaround
Two decades ago Vodafone was riding high, pulling off a blockbuster takeover with its 2000 acquisition of German rival Mannesmann in a deal worth £113bn. Now the UK-based telecoms group is making headlines for its retreat, after announcing this week it will exit Spain, one of its main European markets, selling its business there for up to €5bn to a fund founded by two former Virgin Media executives. The retrenchment represents both a humbling for the telecoms group and what investors hope signals a fresh start following years of a languishing share price.
Price Momentum
VOD is trading near the bottom of its 52-week range and below its 200-day simple moving average. Investors have been pushing the share price lower, and the stock still appears to have downward momentum.
Price Momentum
VOD is trading near the bottom of its 52-week range and below its 200-day simple moving average. Investors have been pushing the share price lower, and the stock still appears to have downward momentum.
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