Latest news with #VodafoneGroupPlc
Mint
7 hours ago
- Business
- Mint
Data privacy: Sales agent's ‘malicious behaviour' costs Vodafone a massive $51.3 million fine
(Bloomberg) -- Vodafone Group Plc was hit by a record €45 million ($51.3 million) data privacy fine in Germany over 'malicious behavior' by third-party sales agents. The actions of partner agencies that broker contracts to customers on behalf of Vodafone led to fraud, including fictitious contracts or term changes at the expense of clients, Louisa Specht-Riemenschneider, Germany's federal data protection commissioner, said in a statement Tuesday. 'If data breaches happen, we take action with all the means at our disposal,' Specht-Riemenschneider said. 'This is the highest fine my agency has ever imposed.' Privacy watchdogs across the European Union have increased their scrutiny under the bloc's comprehensive General Data Protection Regulation and started to levy hefty penalties. Meta Platforms Inc., the parent of Facebook, was slapped by a record €1.2 billion fine in Ireland over data transfer violations, while Inc. faced a €746 million penalty from Luxembourg regulators for improper use of personal data in advertising. The German Vodafone penalty had two components. A €15 million part was imposed because Vodafone didn't sufficiently vet and monitor the sales agents for data-protection compliance. A fine of €30 million was imposed for security flaws in the online customer identification which allowed unauthorized persons access to eSIM profiles, according to the statement. Vodafone fully cooperated, changed its processes and already paid the fine, Specht-Riemenschneider said. Vodafone Group Plc Chief Executive Officer Margherita Della Valle said the company's biggest market, Germany, may return to revenue growth in the current fiscal year after heavy competition and a regulatory change cost it millions of customers and pushed down sales. Vodafone will continue feeling the impact from the legal change — which barred landlords from bundling rent with TV and broadband services — for another quarter, Della Valle said in a call with reporters on Tuesday. The change has cost the company more than half of its TV customers living in housing complexes in Germany, but is projected to stabilize, she added. Germany, which has taken on greater importance after Vodafone sold off units in Spain and Italy, has been a drag on the company's revenue for the past four quarters. Vodafone's also dealing with heavier competition and took a €4.35 billion ($4.9 billion) impairment charge for the year on the value of the business because of its falling profit and growth expectations, the Newbury, England-based company said in a statement.
Economic Times
4 days ago
- Business
- Economic Times
Vodafone Idea posts Rs 7,166 crore loss, plans Rs 20,000 crore fundraise
Vodafone Idea's board has approved raising up to ₹20,000 crore despite a widened net loss of ₹7,166 crore and continued subscriber losses. The company aims to fund its 4G and 5G expansion to curb user churn, while auditors caution about its ability to meet liabilities. Despite challenges, Vi reports improved ARPU and reduced subscriber loss pace. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The board of directors of Vodafone Idea on Friday approved raising up to `20,000 crore more even as its net loss for the March quarter widened sequentially to Rs 7,166 crore from Rs 6,609 crore and it continued to lose fresh funds will be critical to the telco's 4G and 5G expansion as it tries to stop user losses and turn around its business. The company said it would evaluate raising money by way of equity or debt or any other convertible instruments in one or more JV of UK's Vodafone Group Plc and India's Aditya Birla Group was unable to arrest subscriber churn even as it commenced pan-India 5G rollouts this quarter covering major markets like Mumbai and Delhi. In December, subscriber base had fallen below the 200 million mark for the first time since its merger in March, it further declined to 198.2 million. SR Batliboy and Associates, the auditors of Vi, cautioned that the operator's financial performance has impacted its ability to generate cash flows that it needs to settle/refinance its liabilities as they fall due. 'The group's ability to continue as a going concern is dependent on support from the DoT on the AGR (adjusted gross revenue) matter, successfully arranging funding and generation of cash flow from its operations that it needs to settle its liabilities as they fall due,' the auditor the top management was upbeat about the results, pointing out that the pace of subscriber losses had slowed and the average revenue per user (ARPU) improved. 'Early indicators show improvement across key business metrics and with our ongoing investments, we are well placed to effectively participate in the growth opportunity offered by the Industry,' Akshaya Moondra, chief executive of Vodafone Idea, said in an earnings statement late on commenced 5G services in Delhi-NCR, Mumbai, Chandigarh, and Patna this quarter, and plans to extend coverage to all 17 circles where it holds 5G airwaves by August 2025. However, the widespread 5G rollouts by larger rivals Reliance Jio and Bharti Airtel have made it challenging for Vi to catch up in terms of market penetration, user adoption, and overall telco's ARPU — a key performance metric — grew marginally to Rs 164 in the March quarter, from Rs 163 in the preceding quarter, as the residual flow-through of headline rate hikes in July 2024 was mostly absorbed by now. Quarterly revenue grew 0.9% quarter-onquarter to Rs 11,014 crore.'This has been a turnaround quarter for us, marked by the highest average daily revenue in the past five years and a significant reduction in subscriber loss,' Moondra said. The telco lost 1.6 million subscribers in the January-March period compared with 5.2 million in the previous three-month net debt reduced substantially to Rs 1.97 lakh crore as on March 31, from Rs 2.29 lakh crore in the previous quarter, as the Government of India converted AGR-related dues to equity share in the company.
Bloomberg
20-05-2025
- Business
- Bloomberg
Vodafone Forecasts Flat Profit in German Turnaround
Vodafone Group Plc forecast earnings in the current fiscal year will be approximately flat as the UK carrier faces increased competition in its key German market. Adjusted earnings before interest, tax, depreciation and amortization after leases for fiscal 2026, which ends in March, will be €11 billion ($12.4 billion) to €11.3 billion, the Newbury, England-based company said in a statement on Tuesday. That compares with an average analyst estimate of €11.18 billion in data compiled by Bloomberg.
Bloomberg
14-03-2025
- Business
- Bloomberg
Liberty Is Said to Approach Vodafone For Its Dutch JV Stake
Save Liberty Global Ltd. has approached Vodafone Group Plc for a potential acquisition of its stake in their Dutch joint venture VodafoneZiggo, according to people familiar with the matter. Liberty Global has expressed interest in a deal and held on-and-off talks with Vodafone in recent months, the people said, speaking on the condition of anonymity because the information is not public. Any transaction may value Vodafone's stake at more than €2 billion ($2.2 billion), according to some of the people.
Yahoo
14-03-2025
- Business
- Yahoo
Why Vodafone Group Plc (VOD) Surged On Thursday?
We recently published a list of . In this article, we are going to take a look at where Vodafone Group Plc (NASDAQ:VOD) stands against other stocks that defied Thursday's slump. The stock market ended in the red territory anew on Thursday following a fresh wave of uncertainties and reports of a looming government shutdown that rattled investors. The Dow Jones dropped by 1.30 percent, while the S&P 500 and Nasdaq declined by 1.39 percent and 1.96 percent, respectively. Meanwhile, investors took refuge in 10 companies, predominantly mining firms, to mitigate the risks from the macroeconomic threats. In this article, we have listed the 10 strongest stocks and detailed the reasons behind their performance. To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in trading volume. A customer receiving a mobile money transfer notification on their phone. Vodafone grew its share prices by 3.17 percent on Thursday to end at $9.50 apiece as investors cheered news of its recent partnership with Nokia to expand its IP backhaul network. In a statement, Nokia said it signed a three-year agreement with VOD to deploy its cutting edge IP/MLS solutions across multiple telecommunications circles in India. As part of the partnership, Nokia will supply its latest portfolio of IP/MPLS products to improve network scalability, connectivity, and efficiency. Meanwhile, VOD aims to densify its network with a significant deployment of IP routers and replace its legacy networks, which will then enable lower operational costs, faster deployment, and seamless scalability for future technologies, ensuring a more efficient and cost-effective network infrastructure. Overall, VOD ranks 9th on our list of stocks that defied Thursday's slump. While we acknowledge the potential of VOD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than VOD but trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
