Vodafone raises forecast after £3bn boost

first_img whatsapp John Dunne Tuesday 9 November 2010 3:36 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorythedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterMartha Stewart CBDShop Martha Stewart’s CBD Products NowMartha Stewart CBD More From Our Partners Porsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comColin Kaepernick to publish book on abolishing the policethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.comKansas coach fired for using N-word toward Black playerthegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Show Comments ▼center_img Vodafone, the world’s largest mobile operator by revenue, raised its full-year outlook and said it would receive a £3.1bn payment from Japan’s SoftBank in a boost to the firm after some investor complaints.The company also said it would push the sales of data plans and the disposal of non-core assets as it refreshed its strategy after some investors complained that the firm’s ownership of a host of non-strategic minority assets damaged the overall value.The payments from the mobile phone carrier SoftBank, had not been mentioned by many analysts in the build up to the highly awaited announcement and are likely to be taken well.SoftBank purchased Vodafone Japan in 2006. Vodafone said it would sell to SoftBank its interests which were originally received as part of the sale.A first tranche of £1.6bn will be received in December 2010 and used to pay down debt.Shares in Vodafone have risen more than 16 percent since the company announced its intention to update its strategy, with much of those gains coming since it sold its 3.2 per cent stake in China Mobile for $6.6bn in September.Vodafone said it would look to generate free cash flow or liquidity from other non-controlled assets, building on the sale of the China Mobile stake and SoftBank.The pending strategy update had overshadowed the build up to results, which were solid, with first half total revenues up 1.8 percent organically to £22.6bnCore earnings were down 2.8 percent on an organic basis to £7.4bn, compared with a forecast of 7.3 billion pounds. Organic service revenue, which is made up of revenue related to ongoing services, was up 1.7 percent and ahead of a Reuters poll predicting 1.4 per cent.Vodafone raised its forecast for full-year adjusted operating profit to £12.2bn. It had said in May it would target a range of £11.2 to £12bn. Tags: NULL Share whatsapp Vodafone raises forecast after £3bn boost last_img

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