Einhorn’s Is Positive On Vodafone Group Plc (NASDAQ:VOD)

Posted by Nathan Alexander October 3, 2013 0 Comment 1085 views

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.

Lucrative market

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.

Wednesday’s trading

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.

About Nathan Alexander

Nathan Alexander holds bachelor’s degrees in Journalism and European Studies from Boston University. Nathan reports round up the day’s business and financial market news and include keynote interviews with major business players and updates on Asian, European and US stock markets. He has interviewed heads of leading European banking institutions such as European Central Bank President Jean-Claude Trichet and HSBC Chairman Stephen Green, and CEOs from the business world including Microsoft founder Bill Gates, Virgin Chairman Sir Richard Branson and former Porsche President and CEO Dr Wendelin Wiedeking.

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