Einhorn’s Is Positive On Vodafone Group Plc (NASDAQ:VOD)
The hedge-fund manager, David Einhorn, said that AT&T might target Vodafone Group Plc (NASDAQ:VOD) for a takeover bid once the British company breaks its Verizon joint-venture. Verizon has acquired Vodafone Group Plc (NASDAQ:VOD) Verizon’s Wireless stake in a deal worth $130B. Now it just seems like the company has an attraction quotient attached to it, especially for companies that are seeking to expand into Europe, said Einhorn. The hedge fund manager is Greenlight Capital’s president. The hedge fund has a stake in the communications company.
On Bloomberg, Einhorn said that if you take away Verizon from the Vodafone Group Plc (NASDAQ:VOD) equation, what is left is the European business and this makes the company a very attractive proposition. AT&T is looking for exposure in the European market and thus there may be chances of it making a beeline for Vodafone Group Plc (NASDAQ:VOD). The country’s market is attractive primarily because the value of the wireless carriers is much lower there. Another point to note is that investing in network upgrades might just boost the demand for data consumption in the country.
In Wednesday’s trading, Vodafone Group Plc (NASDAQ:VOD) rose by 1.33%. The shares opened at a price of $35.27, climbed to an intraday high of $35.96 and dipped to a close of $35.83. Approximately 13.74 million shares were traded on Wednesday while an average volume of 15.96 million shares were traded over a 30 day period. The 52-week low of the company’s shares is $24.42 and its 52-week high is $35.96. The company has a market capitalization of $175.28 billion.
About the company
Vodafone Group Plc (NASDAQ:VOD) is a mobile-communications company. It operates across the world and provides a variety of communications services. It offers various products and services such as voice, data, messaging and fixed-line solutions and mobile devices that assist customers to meet their communications needs.