This morning's announcement by AIX effectively values Vodafone Australia at $2.3B, a far cry from the >$5B in inferred value which was being touted in the market 12+ months ago.
This morning, AIX confirmed that its Hastings Funds Management business had yesterday sold its 4.5% stake in Vodafone Australia effectively for $105m.
As a result of this sale taking place, Vodafone Pacific is now 100% controlled by Vodafone PLC. Such a move (ie: in cleaning up its equity structure, etc), now positions Vodafone for the next step in industry rationalisation.
Such a step may well comprise one or more of the following:
1)
exit from Australia through a sale to another party (ie: HTA);
2)
a merger with another party in order to provide a more comprehensive level of coverage and service (ie: HTA and /or TEL/AAPT); and /or
3)
an infrastructure sharing arrangement /equity commitment in support of its 3G aspirations (ie: through a tie-up with Hutchison, as the most advanced developer of 3G services in Australia).
AIX SELLS OUT OF VODAFONE
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Last
$1.17 |
Change
-0.005(0.43%) |
Mkt cap ! $476.3M | |||
| Open | High | Low | Value | Volume |
| $1.17 | $1.17 | $1.17 | $1.54K | 1.322K |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 2 | 5002 | $1.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.17 | 33003 | 2 |
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| Last trade - 10.02am 14/05/2024 (20 minute delay) ? |
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Last
$1.16 |
Change
-0.005 ( 0.85 %) |
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| Open | High | Low | Volume | ||
| $1.16 | $1.16 | $1.16 | 9527 | ||
| Last updated 10.05am 14/05/2024 ? | |||||
| FGX (ASX) Chart |