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).
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AIX SELLS OUT OF VODAFONE
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Last
$1.15 |
Change
-0.005(0.43%) |
Mkt cap ! $469.3M |
Open | High | Low | Value | Volume |
$1.16 | $1.16 | $1.15 | $574.9K | 498.9K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 42798 | $1.15 |
Sellers (Offers)
Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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1 | 42798 | 1.150 |
12 | 185707 | 1.145 |
5 | 1039603 | 1.140 |
2 | 1762 | 1.135 |
3 | 42699 | 1.130 |
Price($) | Vol. | No. |
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1.155 | 20000 | 1 |
1.160 | 75408 | 2 |
1.165 | 21743 | 1 |
1.170 | 72214 | 3 |
1.175 | 34805 | 4 |
Last trade - 16.10pm 29/05/2024 (20 minute delay) ? |
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Last
$1.15 |
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Change
-0.005 ( 0.43 %) |
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Open | High | Low | Volume | ||
$1.16 | $1.16 | $1.15 | 144691 | ||
Last updated 15.42pm 29/05/2024 ? |
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