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Strategies & Market Trends : Value Investing

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To: E_K_S who wrote (61026)7/30/2018 1:25:40 PM
From: E_K_S   of 78744
 
Vodafone Surges on Report Activist Elliott Took Stake in Carrier

Vodafone Group Plc rose the most in almost six months after DealReporter said U.S. activist investor Elliott Management Corp. has taken a new stake in the world’s second-largest mobile carrier.

The stock rose as much as 4.1 percent, the most intraday since Feb. 2, and advanced 3.4 percent to 186.08 pounds at 3:43 p.m. in London.

Elliott Advisors, the European arm of New York-based Elliott Management, first approached Vodafone several weeks ago and has held conversations with management and at least one board member, DealReporter said, citing unidentified sources familiar with the situation. Elliott is pressing for changes at the carrier, DealReporter said, without specifying. The size of the stake isn’t known but is significant, according to the report.

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Will be interesting to see where this goes as VOD was yielding over 6% and trading at more than a 5 year low last week. I have 2 different Buys 5/2018 & 7/2018

EKS
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